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Growing its ecosystem: WeChat pledges USD 15 M to support SMEs

WeChat, China’s largest social network, announced on Tuesday a RMB 100 million (USD 15 million) fund which the company will use to support the growth of early stage developers and their companies in the WeChat ecosystem.

According to this announcement, developers will receive rewards for registration and real name verification. Tencent claimed that the reward included a basic development package and Tencent cloud products, all of which are worth a total of RMB 20,000 altogether. Tencent did not reveal the exact number of developers in the WeChat ecosystem.

Dodoca is an example of a major developer in the WeChat ecosystem. It is a digital marketing solution provider; It develops membership cards and discount coupons in WeChat for its customers, who mainly include traditional brands and restaurant chains.

Tencent are promoting its three products for enterprises together for the first time: Tencent Cloud, Wechat enterprise edition (an app separate to the normal WeChat app) and WeChat’s enterprise accounts as the three pillars to assist millions of its enterprise users. In mid-July, WeChat claimed that 20 million enterprises had already registered on their platform.

Xu Longhua, director of mobile cloud products in Tencent, specifically pointed out that Tencent Cloud will accelerate the speed when making a WeChat payment transaction and ensure the security of enterprises’ accounts on WeChat.

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