Latest in App.net

Image credit:

Tencent reveals how it gets users to pay for its service

17 Shares
Share
Tweet
Share
Save

Sponsored Links

We've all seen those "OMG! Don't make us pay for Facebook" fake petitions, but App.net and The Social Network raise questions about how our social services raise their moolah. Tencent's Sophia Ong has revealed that it's in the unique position of having users happy to pay for services that we take for granted. While signups for QZone (Facebook equivalent) is free, users have to use QBs, the site's virtual currency, to buy and clothe their avatars. While 1 QB = 1 yuan ($0.16), there are 30 million paying customers on the site -- meaning that the company can count on around $50 million in monthly payments. It's not stopping there either, sensing a slowdown in the local economy, the company has an eye on opening up its eCommerce platform to ensure it can continue to rake in the cash.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
17 Shares
Share
Tweet
Share
Save

Popular on Engadget

Alienware's Aurora desktop and gaming monitors get a huge redesign

Alienware's Aurora desktop and gaming monitors get a huge redesign

View
US gives Huawei another 90 days to serve existing customers

US gives Huawei another 90 days to serve existing customers

View
Supreme's 'burner' phone is built for hypebeasts

Supreme's 'burner' phone is built for hypebeasts

View
'Superhot' and 'Hotline Miami' hit Nintendo Switch today

'Superhot' and 'Hotline Miami' hit Nintendo Switch today

View
Google stops sending Android cell signal data over privacy concerns

Google stops sending Android cell signal data over privacy concerns

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr