Citation
Annual Reports 2011-2024
TL;DR
WeChat grew from 50M (2011) to 1.4B MAU (2025)
Tencent's annual reports document the company's dramatic phototropic shifts from QQ Desktop to WeChat mobile, tracking the resource reallocation that enabled survival of the mobile transition. The financial data shows how engineering resources shifted from QQ to WeChat as mobile adoption accelerated.
These reports provide quantitative evidence for the chapter's claims about reallocation percentages and timeline, demonstrating how gradient detection translated into actual resource movement.
Key Findings from Holdings (2024)
- WeChat grew from 50M (2011) to 1.4B MAU (2025)
- Majority of mobile engineering shifted from QQ to WeChat by 2013
- Gaming remained core revenue through platform transition
- Super-app ecosystem (payments, mini-programs) built on WeChat foundation