Reuters: Technology News: China's Tencent to delve deeper into Indonesia social media market

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China's Tencent to delve deeper into Indonesia social media market Feb 28th 2013, 07:49 Tweet Share this Email Print Related News UPDATE 2-Last-minute Bumi sale threatens Rothschild victory hopes Mon, Feb 18 2013 Analysis & Opinion IA brief: If you haven't joined the social media bandwagon, you're not alone Profit first casualty in China’s mobile ad war Tencent headquarters is seen at Nanshan Hi-Tech Industrial Park in the southern Chinese city of Shenzhen June 9, 2011. Credit: Reuters/Bobby Yip JAKARTA | Thu Feb 28, 2013 2:49am EST JAKARTA (Reuters) - Tencent Holdings, China's biggest online gaming and social networking company, has set up a joint venture with Indonesia's biggest media group PT Global Mediacom to tap the country's growing social media market. The venture will further promote Tencent's highly popular mobile chatting app WeChat, which the company introduced to Indonesia late last year and other products will also be introduced in the future. Indonesians, which number 240 million, are among the world's biggest users of Facebook and Twitter. "The partnership between Tencent and MNC is our strategic step to expand our reach to Indonesian customers," said Martin Lau, Tencent's president said in a statement. Hillhouse Capital, one of China's biggest investment funds, is participating in the venture. The companies did not provide financial terms. Hary Tanoesoedibjo, owner of MNC group and CEO of Global Mediacom, told Reuters in 2012 that he plans to develop local social media platforms as well as online gaming to tap the growing domestic market. (Reporting by Fathiya Dahrul; Editing by Edwina Gibbs) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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