WeChat recorded 1b+ transactions during Chinese New Year


WeChat is again redefining what growth means, one year after its taxi app saw 21 million cab rides booked in the first *month* after release. This time the instant messaging platform facilitated the exchange of one billion virtual "red envelopes", a Chinese New Year tradition of exchanging money between relatives and friends. How much money was moved is unknown at this point, but WeChat competitor AliPay recorded $642M of gifts over the same period of time.


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