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1. TENCENT QQ SERVICES Overview

3. OVERVIEW IM CLIENT IN CHINA

4. COMMUNICATION TOOLS The Internet's communication tool function develops with certain Chinese feature in China. Instant communication is especially developed in China with 69.8% of Internet users communicating online.

6. STATISTICS (1): Active user accounts are defined as those who have logged onto the network at least once during the last 30 days. (2): Peak simultaneous online user account is similar to CCU in maximum Tencent QQ is the most popular IM software in China which owns over 70% market share. Most used IM software in China * TM is Tencent Messenger, business IM Client (cover 4% of 78.7%) NestEase PoPo 0.8% Others 4.2% Yahoo! IM 0.8% Taobao 1.6% Sina UC 1.0% Tencent QQ/TM * 78.7% 10.3 million MVAS (Mobile Value-add service) 17.7 million IVAS (Internet Value-add service) paying subscription 3.59 million Peak simultaneous online user account for QQ Game portal (for mini casual game only) 32.6 million Peak simultaneous online user (2) accounts for IM services 288.7 million Active IM user accounts (1) 715.3 million Total registered Instant Messaging (IM) user accounts QQ Key platform statistic of third quarter 2007

7. QQ’S DISTRIBUTION Tencent QQ users’ age distribution and Monthly Income (None Internet café & Public location), Source: iResearch Inc QQ attracts a large number of teens and twenties. The largest proportion of QQ users has a monthly income in 1000-2000RMB.

8. UNDERSTANDING ABOUT TENCENT

9. GENERAL IMFORMATION Wireless portal Online Platform Instant Messenger QQ (main product) QQ Oversea Mobile and telecommunications value-add services Internet value-add services Major of Business Online advertising Company Name Tencent Holding Limited Date of Establishment November 1998 CEO Ma Huateng Headquarters Floor 3-10, Fiyta building, Gaoxinnanyi Avenue, Southern District of Hi-tech Park, Shenzhen. Number of Employees 3,700 Web portal QQ.com QQ Game portal Multi-media blog service QZone QQ Thailand, QQ Japan, QQ Indonesia, QQ Africa

10. ROADMAP Peak simultaneous online user accounts for IM services (‘000)

11. QUATERLY REVENUES BY SEGMENT

12. FINALCIAL PERFORMANCE

13. TENCENT’S CONTENT PORTFOLIO

14. TENCENT‘S BUSINESS MODEL

15. PRODUCTS & SERVICES Online Advertising Service E-commerce Mobile & Telecommunications Value-add Services Internet value-add services Business line Providing multinational and local companies effective online marketing solutions Paipai.com Tenpay Mobile QQ lover QQ Notice QQ MMS Magazine QQ Color Ring Supper QQ QQ MSM Cards QQGame casual game platform Large Internet games Medium-sized casual games Desktop RPGs Battle Platform Interactive Entertainment Service QZone QQMembership QQShow QQMusic QQLive QQLove QQDating Value-add Service QQ.com Soso.com Online Media QQ TM(Tencent Messenger) RTX(Real Time eXchange) Instant messaging Service Key Services Products & Services

16. ONLINE PLATFORM QQ IM QQ.com Qzone QQ Game WAP Portal

17. ANALYSIS QQ INTERNET VALUE-ADD SERVICE

18. TENCENT QQ IM CLIENT

19. BRIEF INTRODUCTION In February 1999, Tencent launched Tencent QQ, an Internet- based Instant Messaging (IM) tool to support online message communications and instant voice, video and file transmission. By integrating multiple mobile communication methods, QQ enables users to send messages to mobile phone users through the platform. QQ now features new functions, such as firewall penetration, dynamic emoticons, video sharing, image capture, file sharing, visual environments for chatting, and photo display during chatting. QQ also provides users with the industry standard platform for Internet business and mobile and fixed line network business. The original name of QQ was OICQ (Open ICQ). However, because of the possible trademark infringement with another popular instant messenger (ICQ), and also the fact that neither the program nor the protocol is considered "open", Tencent changed its name to QQ.

20. QQ IM SERVICE MAP Main page: www.qq.com Interactive entertainment QQ Pet QQ Games Internet Value-add services QQ Membership QZone QQ Show QQ Music QQ Live E-commerce Paipai Tenpay IM client QQ Chat room Mailbox Tencent Traveler Instant Messenger

22. QQ IM INTERFACE My nickname & Status [Today’s Weather] Local Date Detail [Sub-features] QQ Mobile Game Browser Chat Room Pet Music Live [Statistic] My Entries (Qzone) My Email My Cyber pocket [My Info.] QQ Show My Signature Activated VIP Level Online Level Inactivate Local QQ Friends Contact List QQ Groups Recent Contacts [My Label] configured by user My display image

23. IM WINDOW [My friend’s info] -Nickname -Account -Personal message Click to see her profile [Advanced functions] -Send image -Set music background -Change skin - Set my online ringtone (Pay service) MAIN WINDOW My friend’s QQ Show [Capture] Capture Screen Capture flash image Capture flash Chatting history [Basic functions] Font, Emoticon, Flash emoticon Nudge My friend’s new upgrade of QQ Show and QZone are displayed here

25. FEATURE OF QQ IM Sending MSM - Download Pictures & Ringtone - Mobile Online - Greeting Cards - QQ eyes: Notice me whenever my friends online QQ - Supper MSM Man: Send preferential MSM - Supper QQ: Use Mobile online QQ - Games - WAP Channel Preview [3G] Wireless Services, expanding all Internet services to mobile phone Signature Message sent How the text will be display on mobile screen

26. SOME FEATURES OF QQ My Alert notices me with lasted news, Tencent’s activities or even my friend’s birthday! I show my friend an interest video file. We enjoy movie and chat at the same time! I can send messages to my friend’s mobile through QQ, if he’s using QQ Mobile Some friends got new upgarde in their QZone! My friend is enjoying a song, from here I can see her QQ music’s playlist I also know if my friend playing QQ Game My online storage: I got 16M free online hardware, it help me sharing file with friends more convenient

29. QQ GROUP Group’s Lay out and management [Main functions] Group’s Space Group’s Email Group’s Voice chat Group MSM Report Bad Account File Sharing [Group’s name] This is “English learning group”, all members have to type English to join the conversation. [Group’s members] (No Guess or Visistor) Permission or invitation from the hosts is needed to become member of group. Online member s are displayed on top [Bulletin] The content of bulletin is written by creator or administrators [Creator] This is the group maker, he has most power in group management such as group’s layout, file sharing, photo albums or setting his group as private or public. [Administrator] Administrators are the group’s members who can help the creator manage group. They are promoted by creator, and can be set up to 5 persons

32. QQ VALUE-ADD SERVICES

33. QQ WEB PORTAL Mobile QQ lover, QQ Notice, QQ MSM Magazine, QQ Color Ring, Super QQ and QQ MMS Cards QQ Wireless QQ IM software, QQ Account, QQ password security, QQ Skin & other products QQ QQGame casual game platform, large Internet games, medium-sized casual games, desktop RPGs and Battle Platform. Games Paipai, Tenpay, Hardware, Greeting Cards, Email, Search Engine, QQ VIP, TT Brower, QQ Live/Radio, QQ Music, Epay, Telecommunications, Broad Band Payment, Service Centre Services Chat room, BBS, Corpus, Album, QQ Home, QZone, QQ Love, QQ Show, QQ Group space, School List, QQ Pets, QQ Dating Interactive Chinese integrating news & information Media FEATURES DIRECTORY

35. SEARCH ENGINE AND KNOWLEDGE SERVICE Search Engine From March 2006 Website: www.soso.com Competitors: Baidu.com; Google.com.cn Strengths: Quantity of existed QQ Users, Leading brand of China Internet Industry, Great resource quantity Soso Ask From April 26 th 2007 New player in Knowledge Service market Competitors: Baidu Knows, Sina Men of knowledge Strengths: Quantity of existed QQ Users, Leading brand of China Internet Industry

36. QQ CHAT ROOM Directory page What is QQ Chat Room? QQ Chat room allows all people to chat, make friend, and community. However, like any public area on the internet, there are people who want to take advantage people’s trust. One chat room can include up to 200 participants QQ's Chat rooms are moderated. There are a team who monitor the chat rooms and have the power to remove people out of the chat rooms and ban them from coming back. CCU of QQ Chat room CCU of this house CCU of each room Searching bar [Select a room] [Category] [My favorite room]

37. QQ CHAT ROOM Join a room [Bulletin] QQ Live Today’s hotspot [Chatting Content] Online Members My mini group [Administrators] The administrators have right to enjoin members’ speak Programs schedule My messages APPLICATION AREA CHATTING AREA PARTICIPANTS AREA

38. QQ LIVE-Main page Audience Rating My Calendar 24 hours’ Calendar Weekly recommend programs Channels List Focusing Programs What is QQ Live? QQLive is an interactive P2P distribution platform for streaming media developed by Tencent. QQLive provides Internet users with stable and fluid live streaming of audio/video. Compared with traditional streaming media, QQLive utilizes P2P streaming technology and has features that ensure stable broadcasting irregardless of the number of users and allows for large-scale broadcasting events to reach millions of users simultaneously. QQLive can be hosted by various environments, such as web pages and desktop programs, and offers a wide range of video programs and real-time interactive functions to satisfy the demands of many types of users. CCU of QQ Live Personal Info Banners of programs Website: http://qqlive.qbar.qq.com/ Mini window to select Live channel

39. QQ LIVE-Video My schedule TV Channels Movie Cartoon Documentary Entertainment FM [Chat room] Online members in this chat room are watching this program. [My calendar] The program schedule that I choose for Today/Tomorrow/The next day [Recommendation] The programs that may in the same interest of user

42. QQ GAMES COMPETITION BATTLE FRIENDS GAMES MMOG Casual Card Battle Game Avatar Games that I joined VIP Logo Game Coins (or Q Points) is the money used for QQ Game. 100 Game coins=1RMB QQ Games Family is a group that share have same interest. Each family have their own name, slogan and regulations and can hold many kinds of competitive activities online. Games’ gift shop

43. QQ Pets Pet penguin and Penguin Island Pet pig and Pig Island VIP Label: Pink diamond Subscribe 10Yuan/month What is QQ Pet? QQ Pet is a Desktop RPG Game supplied by Tencent in Jun of 2005. Pet penguin and pig have their different flat-animated cyber spaces, which called “Penguin Island” and “Pig Island” Pets live can be feed, study, washing, shopping, working health care and marriage

44. QQ SHOW Show off your style with custom image What is QQ Show? QQ Show is QQ's avatar design system. QQ users can choose virtual clothing, jewelries, backgrounds and cosmetics to customize the avatar they use in services, such as QQ IM, QQ Chat Room, Tencent Community and QQLove. VIP Label: Red Diamond , 10 Yuan/month Personal QQ Show can be displayed on QQ, QQ Mini home, QQ Chat room, BBS, Mailbox, etc. BBS QZone QQ Mini home

45. QQ SHOW Main page My avatar -Activities area -Item stores QQ Show www.show8.qq.com 3D Show www.3d.qq.com

46. FEATURES OF QQ SHOW My avatar [Refitting function] Go back last try-on: Remove: move my character to suitable location in avatar Enlarge: Zoom in avatar 5 times with retaining natural effect Collection: collect favorite avatars Demand: is the other method of payment, by sending purchase request to friend, ask him to pay for some favorite item. Gift: buy items for friends Classical style Modern style There are 2 styles of avatar’s image: Classical style and modern style User can chose the style they like, then freely try-on items and decorate their personal avatar

47. FEATURES OF QQ SHOW Shopping Mall & Purchase method Variety of stores and items: -Items: Clothing, Jewelries, Backgrounds, Cosmetic, ect -Membership’s free store -Brand store: Nike, T’ang (Chinese brand), Majortina -Users’ promotion store: Promotion product, Top designers ect -QQShow paradise: where QQ users joint variety activities and interactive entertainment, such as: Flower gift shop, Studio, Red bean payment store, Museum, Bar (BBS), ect. Items now can be purchased by Voucher or Red bean Voucher is the visual money that only used for shopping in QQShow. It can be purchased by QQ coins and in the period of use Red Bean is Tencent’s new method of payment, can be used to convert some limited items or join activities. The only way to get Read Bean is joining QQShow activities.

48. QZONE Community service What is QZone? As a next-generation personalized multimedia space exclusively owned by users, Qzone creates a brand-new online lifestyle built around three major content categories: self expression, content sharing and peer interaction. Leveraging all the possibilities of multimedia, Qzone has become a popular platform of trendy online life. However users want to share feelings or interact with friends, Qzone satisfies their needs with a full range of presentation, exchange and interaction options to enhance their lives. http://qzone.qq.com

51. COMMERCIAL SERVICES Q COINS AND PAYMENT METHOD

52. MONTHLY SUBSCRIPTION QQ Membership Yellow VIP QZone VIP Green VIP QQ Music VIP Pink VIP QQ Pet VIP QQ Mobile Red VIP QQ Show VIP Purple VIP QQ Tang VIP Blue VIP QQ Games VIP Online magazine QQ Love Online Hardware Pet’s helping Monthly Subscription Subscription services Tecent provides subscribers with monthly services. Users will obtain particular privileges for the services they subscribed for, include free or discount items, join Tencent’s various activities. The service charge is 10 Yuan per month. (Online hardware 20Y/M, Online magazine 5Y/M) She is the VIP member of QQ Show, QZone, QQ Games and QQ Pet

54. Q COINS What to do with Q Coins? 1.00 Yuan ＝ 1.00 Q Coins ＝ 10000.00 Q Points (1.00 Yuan ~ 0.13$ USD) Join QQ membership, Supper QQ, and become the VIP member of QQ Music, Qzone, QQShow, QQ Pet, QQ Game, QQ Tang Buy items of QQ games, QQShow, QQ Pet, QZone ect Send music gift to friend’s mobile, Watch online movie, send e-greeting card Join Tencent’s activities and events Convert to Q Points

55. BUYING Q COINS Payment centre: http://pay.qq.com Use Tenpay, credit card, Voice phone to subscribe Subscription Report on mobile phone bill Mobile billing This is the cooperation between Tencent and Banks. QQ account can be bound with bank card to help transaction faster and more convenient Yidian tong Tenpay is online transaction platform developed by Tencent. It supports credit card payment which available for 20 different Banks of China. Users can enjoy 10% discount by using Tenpay service. Tenpay & Credit card Use permanent phone or cell phone to recharge Q coins Voice phone QQ card has three denominations: 15 ￥ , 30 ￥ , 60 ￥ . It can be purchase in internet café, convenience store or kiosks QQ card Q points Q coins Main type of payment

57. SUMMARY TENCENT QQ ‘S PRODUCT AND SERVICES

58. PRODUCTS & SERVICES Online Advertising Service E-commerce Mobile & Telecommunications Value-add Services Internet value-add services Business line Providing multinational and local companies effective online marketing solutions Paipai.com Tenpay Mobile QQ lover QQ Notice QQ MMS Magazine QQ Color Ring Supper QQ QQ MSM Cards QQGame casual game platform Large Internet games Medium-sized casual games Desktop RPGs Battle Platform Interactive Entertainment Service QZone QQMembership QQShow QQMusic QQLive QQLove QQDating Value-add Service QQ.com Soso.com Online Media QQ TM(Tencent Messenger) RTX(Real Time eXchange) Instant messaging Service Key Services Products & Services

59. INSTANT MESSAGING SERVICES (1/3) Real Time eXchange ("RTX") is an IM platform launched by Tencent for enterprises. Using a server-based organizational structure, employees can easily locate and communicate with one another using a range of real-time communication tools. Text messages, text transmission, direct voice conversations and video let users choose the communication tools best suited to their office environment and situation. RTX Tencent Messenger ("TM") is the second IM communication software application developed by Tencent. TM is designed for an office environment and focuses on communication and contact among acquaintances. TM has heightened security measures and optimized features to make it more secure and efficient. Functions, such as e-business card, function which allows the user to appear "offline" to a group of contacts and "online" only to desired contacts, and "do not disturb", make communications at work simpler and more effective. TM In February 1999, Tencent launched Tencent QQ, an Internet-based Instant Messaging (IM) tool to support online message communications and instant voice, video and file transmission. By integrating multiple mobile communication methods, QQ enables users to send messages to mobile phone users through the platform. QQ now features new functions, such as firewall penetration, dynamic emoticons, video sharing, image capture, file sharing, visual environments for chatting, and photo display during chatting. QQ also provides users with the industry standard platform for Internet business and mobile and fixed line network business. QQ

60. INSTANT MESSAGING SERVICES (2/3) QQ Doctor is an anti-virus tool developed by Tencent to address the problem of Trojan viruses that steal QQ passwords. QQ Doctor is designed to source out and effectively delete this type of Trojan programs in users' computers. QQDoctor cuts through the complicated and difficult practice of traditional anti-virus software, has a clean interface, is easy and convenient to use, updates automatically, and ensures QQ users greater security and privacy. QQ Doctor Tencent Traveler is a multi-page webpage browser. It features a friendly user interface, a diversified range of skins for users to choose from, and adds many user-friendly features and functions: intellectual screening icon, recently visited web page retrieval icons, multi-threading high-speed download, and web page history deletion. These features combine to makes surfing on the Internet easier, more convenient and less time-consuming. Tencent Traveler

61. INSTANT MESSAGING SERVICES (3/3) In November 2006, Tencent launched QQDownload. This software simultaneously supports several download tasks, allowing each download to access multiple addresses, and features multithreading, resumption of broken downloads, schedule optimization, high-speed download, no advertisements, no rogue plug-ins, and is totally free. QQ Download is also designed to work with Windows Vista operating system. QQ Download Launched in 2002, QQ Mailbox provides users with stable, secure, fast and convenient e-mail services free of charge. QQ Mailbox is currently used by more 60 million subscribers. QQ mailbox and QQ IM software have become widespread communication tools for Chinese Internet users. QQMailBox

62. ONLINE MEDIA Soso.com (www.soso.com) is a search engine website and a major business unit of Tencent. The website was officially launched and put into service in March, 2006. Soso.com currently offers 16 core products, including website search, general search, Image search, music search, BBS search and Interactive Forum (post.soso.com). With timely acquisition and active presentation of Internet information, the website provides users with effective and convenient search services. Users can search among a vast amount of content and information using website search, music search and image search, and then express and exchange their ideas via our online club and bulletin. Soso.com has recently launched a new product named "wenwen" to provide users with an extensive information and knowledge-sharing platform. QQMailBox QQ.com (www.QQ.com) is China's largest portal in Chinese integrating news, interactive communities, entertainment products and widely-used basic services. The website serves Chinese users around the world and is dedicated to becoming trend-setting and main-stream internet media platform with the greatest communication capacity and interactivity. Through its broad real-time news coverage and full range of information and entertainment services, the website provides a rich and creative online life to hundreds of millions of Internet users. QQ.com

63. INTERNET VALUE-ADD SERVICE (1/3) QQShow is QQ's avatar design system. QQ users can choose virtual clothing, jewelries, backgrounds and cosmetics to customize the avatar they use in services, such as QQ IM, QQ Chat Room, Tencent Community and QQLove. QQ Show QQ Members are the high-end premium customers of Tencent. QQ Members benefit from value-added services for their mobile phones, clients and networks, as well as special discounts and invitations to special offline events and activities. QQ Membership As a next-generation personalized multimedia space exclusively owned by users, Qzone creates a brand-new online lifestyle built around three major content categories: self expression, content sharing and peer interaction. Leveraging all the possibilities of multimedia, Qzone has become a popular platform of trendy online life. However users want to share feelings or interact with friends, Qzone satisfies their needs with a full range of presentation, exchange and interaction options to enhance their lives. QZone

64. INTERNET VALUE-ADD SERVICE (2/3) QQ Music Player is a player independently developed by Tencent that supports both online and offline music, as well as a leading platform of legal online digital music in China. With its powerful music search and recommendation functions, the player enables users to enjoy the latest and most popular music as well as share it easily with others. QQ Music Player also focuses on music-related interactivity, exchange and sharing among users. With a QQ Music Player, users can custom design a personalized soundtrack to their lives. QQ Music Player QQLive is an interactive P2P distribution platform for streaming media developed by Tencent. QQLive provides Internet users with stable and fluid live streaming of audio/video. Compared with traditional streaming media, QQLive utilizes P2P streaming technology and has features that ensure stable broadcasting irregardless of the number of users and allows for large-scale broadcasting events to reach millions of users simultaneously. QQLive can be hosted by various environments, such as web pages and desktop programs, and offers a wide range of video programs and real-time interactive functions to satisfy the demands of many types of users. QQLive

65. INTERNET VALUE-ADD SERVICE (3/3) QQDating is the latest marriage and dating platform launched by Tencent. Tencent plans QQ Dating to develop into a vibrant community in which singles can find their spouse and happiness. QQDating QQLove is China's largest leisure and dating platform. Targeting trend-savvy young adults, the platform has seen tens of millions of registered users, while the number of users simultaneously online has exceeded 100,000. With its multi-criteria search function, the website allows users to accurately find their ideal date. QQ Love offers interactive functions, such as "save", "leave a message" and IM, for users to communicate easily and learn more about people they are interested in. QQLove

67. MOBILE & TELECOMMUNICATIONS VALUE-ADD SERVICE (1/2) Super QQ is a major leisure and entertainment product developed by Tencent. With this product, users can access value added services, including QQ online time accumulation, QQ profile set-up via SMS, information, weather forecast and jokes, and satisfy their various demands for using QQ via their mobile phones. In addition, Super QQ also offers a comprehensive entertainment platform for mobile phones. Supper QQ Tencent's mobile phone website 3G.QQ.COM is a free WAP site that can be visited by users at any time. The website offers users QQ Chat, as well as access to real-time news and information. For mobile phones, 3G.QQ.COM offers practical tools, such as hard disk, album, weather inquiry and search engine. 3G.QQ.COM also offers mobile phone users multiple entertainment solutions, such as Qzone, library, community and ring tones download, as well as games. By sending the message "3G" to the phone number 1700, users get instant access to the WAP site. They also have the option of inputting the address "3g.qq.com"in the bookmark of their mobile phone and visit the site directly. 3G.qq.com

68. MOBILE & TELECOMMUNICATIONS VALUE-ADD SERVICE (2/2) Super Message is a premium entertainment SMS package launched by Tencent most recently. After registration, your QQ will show a symbol of a crystal mobile phone. QQ Super brings you not only a delight surprise of crystal symbols, but also a QQ communication services package and several QQ priorities. With this QQ communication package, a user can send 300 QQ SMS, 60 QQ MMS and 60 QQ messages written in color characters per month. The QQ priorities include the mobile entertainment news, library, online cinema, QQ wireless show, ringtone download, and QQ photo album with hundreds of MB capacity. Super Message will provide its users with a wonderful experience of SMS entertainment. Super Message QQ Notice is an SMS providing information of QQ users' concern for them according to their different demands. After accepting this service, user can set up configuration to receive information relating to his friends: seeing his friends' online and offline notices, searching and talking to online friends who show an offline status, receiving offline messages, revising QQ password, receiving alerts of consumption of the Q-currency, getting to know their friends' status all the time, and keeping an eye on their QQ's personal information. After using the service, a user can also configure the settings according to his needs, including the period of time of receiving notices, and not receiving online or offline notices for certain hours. The service fee of QQ Notice is CNY10/month (communication fee exclusive), including 100 free alert messages. QQ Notice

69. E-COMMERCE Paipai.com is Tencent’s online trading platform which went into service on September 12, 2005 and was publicly lauched on March 13, 2006. Paipai.com provides internet users fast and convenient online trading services, including e-tailing and user to user buying and selling goods. Paipai.com has 7 main sections: Internet Game Zone, Female Street, Dignital City, Gym, Books, Audio and Video Product, QQ Special Zone and Discount Sales. QQ Special Zone offers a variety of specialized products and services, including QQ Pet, QQ show, and QQ Doll. Paipai.com features the powerful online payment platform Tenpay, which ensure users secure and convenient online payment services. Paipai.com As a leading platform in China for online payment application and services, Tenpay is devoted to providing individual and corporate users with secure, convenient and professional online payment services. Tenpay focuses on building an integrated payment platform with the individual access, corporate access and value added services as core business lines, embracing B2B, B2C and C2C. Tenpay provides individual users with complete and advanced account services, including collection, payment, trading inquiry management, credit agency, and has launched a series of personalized account applications. Meanwhile, Tenpay also provides corporate users with a professional payment clearing platform and many powerful value added services. Tenpay

70. ONLINE ADVERTISING SERVICE As the largest online services platform in China, Tencent provides a wide range of services which covers instant messaging, information portal, oline games and e-business, etc. With innovative product portfolio and diversified adverrtising service models, Tencent’s platform communicates and engages users like no others. With its great reach, high interactivity and targeting ability, Tencent has partnering with many multinational and local companies, providing them the most effective online marketing solution

71. INSIGHT QQ

72. COPORATE CULTURE

74. QQ vs. MSN vs. Yahoo! Launched in 1999 Launched in 2000 Launched in 2000

76. THE END THANK YOU!