Tencent Music's Deal With Alibaba Strengthens a Musical Powerhouse
Tencent (NASDAQOTH: TCEHY) and Alibaba (NYSE: BABA) are usually considered fierce rivals in China's booming internet market. Tencent owns WeChat, the top messaging app in China, and it's been expanding that ecosystem into the e-commerce market with in-app shops and mobile payments. Alibaba owns the top e-commerce sites Taobao and Tmall, as well as the Alipay mobile payments platform.
Most analysts believe that Tencent and Alibaba's ecosystems will eventually collide. That's why it was surprising when the two rivals recently announced a rare partnership in music streaming.
Image source: Getty Images.
Source: Fool.com
