Global TOP 5 Social Media Companies by Gulf Brokers
Company owning/operating social media apps/platforms/networks | Market capitalization in bn USD* as of 15 September 2022 |
1. Alphabet | 1,380 |
2. Meta Platforms | 407.1 |
3. Tencent Holdings | 369.5 |
4. Kuaishou Technology | 33.9 |
5. Twitter | 32.6 |
“There are eight billion people already living on the planet Earth and around 60 % of them are active social media users. This world is still ruled by Meta Platforms (former Facebook). Its family of social networks is used by almost three billion users on a monthly basis. The vast majority are on Facebook (about 1.93 billion), followed by WhatsApp, Instagram, and Facebook Messenger,” commented results of the update chart Syam K.P., financial analyst with Gulf Brokers, and added: „The second most widespread platform among social networks is YouTube, which is a part of the technology giant Google, or its parent company Alphabet. More than two billion users connect to YouTube each month. But social networking is no longer the domain of American companies. Chinese companies are growing rapidly.”
It is primarily the Chinese multinational group Tencent Holdings, which is the third largest of its kind in the world in terms of market capitalization. Its communication platforms include QQ or WeChat. Kuaishou Technology, which runs a video-sharing application with more than 50 million active users a month, also made it into the top five by market value.
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*Source: 15 September 2022, Marketwatch/Yahoo! Finance Exchange rates:
1 HKD = 0,127 USD as of 15th Sept 2022
1 RMB = 0,143 USD as of 15th Sept 2022