Wechat is a social media tool owned by Tencent with over 2 billion users. It generates revenues through games and payments. Founded in 1998 by Ma Huateng, Tencent launched QQ in 1999 and grew to over 100 million users by 2002. In 2011, Wechat was launched, allowing text, voice, video messaging and sharing. Wechat earns over $7 billion annually and its game revenues reached $100 million daily in 2014. While very popular, its potential for growth is uncertain as it owns fewer of its own products over time.