The winning horse of the Chinese internet market and one among the Chinese billionaires, though not started anything unique and innovative but, executed them in China like ever before. Mua Huateng nicknamed as Pony Ma established a local internet empire Tencent Holdings Ltd., (HKG:0700) offering instant messaging services, gaming, eCommerce, and lot more. In less than two decades, Pony Ma turned Tencent worth $181.1 billion Company. Today Tencent owns many popular services, including WeChat and QQ. Intestingly, WeChat is the most popular messsagings services worldwide, while QQ is the third most popular social network after Facebook and Moments (WeChat)
The personal life of this successful co-founder, though, remained mystery owing to his reclusive nature, on his 44th birth anniversary here are few less known yet interesting facts about the legend.
Name: Mua Huateng (Pony Ma)
Date of Birth: October 29, 1971
Net Worth: $18.3 Billion
- Contrary to the fact that Silicon Valley has been the birthplace for all technical innovations, Mua Huateng established the tech empire in China. As a child, he always dreamt of being an astronomer but ended up empowering bright future for China. Till date, however, he remains enthusiastic about creating something new out of technical innovations.
- Pony Ma is popularly known as “Brother Pony” among his colleagues and employees. He earned the title in return of his endeavor of his initiative towards employee welfare. Apart from the regular hikes provided to the employees, he worked with the local government to stabilize the house prices. This step of Pony Ma signifies his concern for his employees.
- It definitely was not a cakewalk for Pony Ma when he along with his five friends established Tencent; similar to other startups they also has to go through the traditional startup challenges. Though the instant messenger OICQ (Open ICQ), the first venture of Tencent, gained one million registered users within a year of its launch the company lost intellectual property rights battle against AOL (American Online) on the grounds similar name who bought another instant messanger ICQ in 1998. Finally, Tencent yielding to the decision and renamed the messenger as QQ, but continued to excel in the path to providing internet services.
- As Tencent was not able to capitalise the expanded user base, Pony Ma raised some capital investments to setup new arms of the company. The Pacific Century CyberWorks invested $2.2 million valuing 40% of the Tencent stake in 2000, indeed it has been a great start for Tencent. In 2004, Tencent listed in Hong Kong stock exchange. Before listing in Hong Kong, Pony Ma considered about listing the company in the US stock exchange as it earned higher earnings, but Pony Ma played safe owing to Tencent’s consultants’ suggestions as a familiar market is the better place and, indeed, it reaped huge profits relatively to the counterparts listed on Nasdaq.
- The ventures of Pony Ma had invited criticisms to be the replica of the other well-known west originated services; for instance, QQ is termed as Facebook of China, Amazon of China, and Uber of China everything under one roof. However, Pony Ma claims localizing the popular service is a challenge.
He believes in the thought, “Ideas are not important in China – execution is.”
- Pony Ma invested the majority of the seed capital required to establish Tencent. He, however, reduced his stake from 9.86 percent to 9.65 percent in April 2015 to eliminate the monopoly on the company. Unfortunatly, the move didnt go well with the market and the Tencent valuation plunged by $11 billion following his move.
The visionary Pony Ma added a number of accolades and awards to applaud his success in modifying the cultural scenario of China. He made into the third position on Forbes China Rich List 2015 and made into the “World’s Most Influential People” 2007 of Time magazine.
“Business miracles are being born in China every day. But I think behind every miracle lies our perseverance, devotion and dream.”
The above words of Pony Ma signify his accomplishment in the developing nation with a huge population. Tencent includes QQ instant messenger, QQ.com, QQ Games, QZone, and many more making QQ.com one of the world’s 10 largest websites. Pony Ma spends a lot of time on research and consuming technology through the available means to constantly upgrade and cater the users with enhanced services with a local flair.
The post is a part of a B’day Series where we celebrate the birthday of renowned personalities from Tech Industry, very frequently. The series includes Entrepreneurs, C-level Executives, innovators or a renewed leaders who moved the industry with his exponential skill set and vision. The intent is to highlight the person’s achievements and touch base the little known, but interesting, part of his life. You can see the list of all earlier celebrated tech personalities, including Mark Zuckerberg, Marissa Mayor, Sean Parker, Andy Rubin, Julian Assange, Sir Richard Branson, Sergey Brin by following this link or subscribe to your daily newsletter.
To make it more exciting, we suggest you make use of the comment section if you are among the ones celebrating their birthday with today’s featured personality.