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

Engadget’s guide to Home Entertainment

Engadget’s guide to Home Entertainment

View
Sling TV's free streaming comes to Android and Amazon devices

Sling TV's free streaming comes to Android and Amazon devices

View
Walmart will take on Amazon with discounted third-party products

Walmart will take on Amazon with discounted third-party products

View
Hulu brings 4K content to the Xbox One

Hulu brings 4K content to the Xbox One

View
What's on TV this week: 'Watchmen'

What's on TV this week: 'Watchmen'

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr