Tencent Signs Deal With Online Book Company Ookbee

The Chinese internet and social media giant, Tencent, has signed a deal with the online book and magazine start up, Ookbee. The deal will pave the way for the start up to launch Ookbee U, which will promote user content across South East Asia, after first launching in Thailand. Ookbee's CEO said that whilst the company “used to compete with traditional book stores”, “this new company idea is more flexible”. The aim of the new venture is to offer “over a million pieces of content” of almost any format for users. For Tencent, the deal represents the potential for its first successful move into Thailand, after struggling in the market with its flagship messaging app WeChat.