Chinese internet giant Tencent has launched a video conferencing app in China after the popular US service Zoom was blocked by the Chinese government. Tencent is already huge in social media, gaming and venture capital, and the launch of its video conferencing service is seen as part of ending reliance on B2C marketplaces and a push toward B2B enterprise marketplaces.
Market vacuum
The changes come as the US-China trade war continues to simmer, with Zoom apparently stalling in September in retaliation for US sanctions. The result has left a void in the local market that Chinese companies are now scrambling to fill. While Tencent already offered WeChat Work for video messaging, the new Tencent Meeting app apps are specifically for businesses. A free version allows up to 25 participants to meet for up to 45 minutes, the professional version can accommodate up to 100 participants. The app also integrates with existing Tencent apps like WeChat Work and the huge QQ social media platform. The move comes as China's video conferencing market remains underdeveloped but growing, with other companies like Alibaba also vying for market position. However, Tencent's decision is not only one-off, but part of a multi-billion dollar refocus to serve China with business-specific services, such as cloud computing. Via TechNode.