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Tencents worth 腾讯的价值 IS TENCENT one of the worlds greatest internet firms? There are grounds for scepticism. TheChinese gaming and social-media firm started in the same way many local internet firmshave: by copying Western success. QQ, its instant-messaging service, was a clone of ICQ, anIsraeli invention acquired by AOL of America. And unlike global internet giants such asGoogle and Twitter, Tencent still makes its money in its protected home market. 腾讯是世界上最大的互联网公司之一吗?有持怀疑态度的理由。这个中国游戏和社交媒体公司跟许多本土互联网公司一样以同样的方式起步：通过抄袭西方的成功模式。腾讯的即时通讯服务QQ是一家被美国AOL收购的以色列发明的ICQ的翻版。而区别于谷歌和twitter等全球互联网巨头，腾讯仍然只在受保护的本土市场圈钱。 Yet the Chinese firms stockmarket valuation briefly crossed the $100 billion mark this weekfor the first time. Given that the valuation of Facebook, the worlds leading social-mediafirm, itself crossed that threshold only a few weeks ago, it is reasonable to wonder whetherTencent is worth so much. However, Tencent now has bigger revenues and profits thanFacebook. In the first half of this year Tencent enjoyed revenues of $4.5 billion and grossprofits of $2.5 billion, whereas Facebook saw revenues of $3.3 billion and gross profits of$935m. | 
