Chinese Internet company Tencent has outnumbered Facebook in terms of market value. On Tuesday, the company's shares touched the record level. Tencent became the first technology firm in Asia to touch a market value of $ 500 billion a day earlier. 

On Tuesday, Tencent shares touched the record of 439.6 Hong Kong dollars during the Asian Trading Hours. Tencent's market capitalization (market capitalization) has reached $ 534.5 billion, while Facebook's Facebook has $ 519.4 billion. Not only this, Tencent has overtaken Alibaba, considered to be China's biggest technology company. On Monday, Tencent turned out to be Alibaba, Asia's first technology firm. 

Still, the company is not well-known outside of China but owns the country's most popular messaging service, WeChat, which has close to 1 billion users. Tencent is a sprawling business that spans gaming, social media, news and content.  Online and mobile games are a key part of the business the division brought in over $4 billion in revenue last quarter. In 2016, Tencent acquired a majority stake in Finnish smartphone maker Supercell, the company behind the popular "Clash of Clans" mobile game.

"We mainly attribute accelerating revenue growth to the continued monetization improvement across multiple key business segments, such as gaming, video, and payment services, and note that user growth is still strong," Barclays said in a note on Monday.

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