News Snapshot:
Tencent Holdings is stepping up efforts to earn money from WeChat’s fast-growing video function, which is challenging popular short video platforms such as ByteDance’s Douyin and Kuaishou Technology, as the Chinese internet giant seeks new ways to expand sales and profits. On Thursday, the Shenzhen-based company launched a new e-commerce tool to create online stores on Channels – the short video and live-streaming service within multipurpose app WeChat- which streamlines the process for merchants to list products, sell and receive payments. The announcement of the e-commerce tool comes after Tencent added video ads to its Channels feeds on Monday, which...
