Date Created: November 26, 2022
WeChat Interesting Key Facts
- As of the second quarter of 2022, WeChat has an astonishing 1.3 billion users.
- More than 70% of China’s population are using WeChat.
- On August 6, 2020, Trump banned WeChat and Tiktok from U.S.A.
- On June 09, 2021, Biden signed an executive order revoking the ban on WeChat and Tiktok.
- In 2014, partnered with Spring Festival Gala, WeChat introduced “Shake your Booty” wherein users would shake their phone in order to win red envelopes. The number of shakes achieved a total frequency of 11 billion and a peak of 810 million per minute!
- The Red Envelope War is an on going financial battle between Tencent and Alibaba. It’s a showdown that reaches it peak on every Chinese Lunar New Year’s Eve. The two companies would present to the people how many red envelopes were sent that year on their platforms and how much its worth.
- This financial battle was started in 2014 when Tencent, a social media company, suddenly shifted it’s business dynamics towards Alibaba’s territory, payment and commerce, by launching the WeChat Red Envelope. Alibaba, in return, launch a similar function through Alipay. Since then, the two giant companies have been competing on purchases of exclusive rights on TV shows, handing out give away and coupons, lowering costs of services, and on many others.
- In 2014, WeChat launched a function where users can split bills, virtually.
- There are currently 4.3 million mini programs on WeChat.
Sources: AP News, Tech in Asia, IMD, Forbes, Technode
WeChat**: Company Overview (About)**
At a glance:
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Sources: WeChat, SCMP
How Much is WeChat Worth? (Valuation)
The following table shows WeChat’s valuation throughout the years: