Business Chief APAC+ANZ Magazine February 2020 | Page 35

CLICK TO WATCH : ‘ BLOOMBERG | TIKTOK ’ S OWNER IS TAKING OVER THE WORLD ’
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range of regions and industries , with its most identifiable strategy being diversification . The company has backed established Western winners including Tesla and Spotify , but also up-and-comers such as Indian food delivery app Swiggy . It ’ s an approach that has reaped rewards for the bottom line . In Q2 of 2019 quarterly profits increased by a third year-onyear , topping some $ 4bn .
While Tencent is a frequent investor on the world stage , it ’ s also not shy of putting money into compatriots . One of the company ’ s most successful
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