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Tencent unrolls multibillion dollar bet on the cloud

Nov 3, 2018 by The Passage Team
Tencent unrolls multibillion dollar bet on the cloud

Chinese internet giant Tencent will invest billions of dollars to spur the company’s push into cloud computing aimed at business clients, a senior executive of the company said on October 2.

The move is part of an organizational overhaul announced by Tencent in late September, marking its seek for a new growth narrative amid ongoing challenges to its core consumer-facing businesses including gaming and social apps.

Based on its hundreds of thousands of existing customers for its enterprise cloud business, the challenge to expand out of Tencent’s traditional strengths and into more business and industry-focused customers could test the company’s fortitude.

Source: Technode

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