Chinese battle among the giants!
Tencent and Alibaba, two of China’s largest internet companies, are once again locked in a battle for the hearts and minds of China’s users. As the Spring Festival holiday approaches, both companies have announced promotional events in which users have a chance to win red envelopes full of cash and coupons. Alibaba said it was offering RMB 600 million (US$96 million) in red envelopes this year, and Tencent fired back with its own RMB 800 million (US$128 million) offering via its app store, in addition to WeChat promotions. After posting to Weibo that more than two million people had already won, the company’s Alipay account was inundated with people complaining that they didn’t win, and that they didn’t know anyone who did.