Tencent CTO: Facebook Took a Page From Our Biz Model

As Facebook?s imminent IPO became the talk of Silicon Valley and Wall Street, you might have read from the social networking site?s SEC S-1 filing that it pulled in more than $1 billion in profit on revenue of $3.71 billion last year. What Facebook?s prospectus will not tell you, is that the social giant has taken a page from Tencent?s business model, at least according to the Chinese Internet giant?s CTO. Xiong Minghua, Tencent's CTO, said in a speech at the ChinaBang Awards ceremony: "I visited Facebook back in 2006 and they cared a lot about Tencent?s business models?especially our micro payment, they studied it thoroughly."

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