As of September 2016, WeChat had 768 million active users; the service is owned by Tencent; social cash sent to users through customized red packets or red envelopes has been one factor driving increased usage; WeChat has also been helping fuel a cashless society with 300 million users using WeChat Pay; expanding features and red packet promotional efforts have helped the company report an estimated value of $80 billion which is approximately half of Tencent’s market cap. Source
