Tencent to reinvent WeChat
David Thomas is an expert on doing business in China. With a successful history of forging global business relationships, David helps leaders,
entrepreneurs and investors solve the China puzzle. As part of that, he’s launched a daily email newsletter ‘China Bites’ which you can read here on Targeting China.
With thanks to my friends at China Skinny for bringing this story to my attention. Just when you thought that your life would never be the same again without WeChat, whilst marvelling at their billion-plus users, amazing innovations and the ultra convenience of WeChat Pay, it seems that the founder, Allen Zhang, is already worrying that it will become obsolete soon unless he rapidly adds new ideas, technology and cool features to maintain and reinvigorate its user base! According to Bloomberg, in a four hour presentation to an audience of over one thousand people he “methodically tore apart his own brainchild before mapping out the next act for China’s premier super-app”.
It’s hard to believe it but, in this brave new world of shiny new online apps and social media in China, and despite their amazing growth over the last 5 years, WeChat is already having to worry about becoming obsolete. Watch out for new apps (eg “Bytedance”) with aspirations to rival their market dominance.
Also, spare a thought for the WeChat team at Tencent who, having built the world’s coolest app and seen it grow to over one billion users, now have to go back to the drawing board and reinvent it all over again! If they can do it, perhaps you can too?!