WeChat Chinese New Year Payments = 8B Virtual Red Envelopes Sent, + 8x Y/Y... WeChat Virtual Red Envelopes Sent – Chinese New Years Eve, 2014 – 2016 8 8B ) B ( nt e 6 S s ope l e nv 4 d E e R l ua t r i V 2 of # 1B 20MM 0 2014 2015 2016 Source: Tencent. KPCB INTERNET TRENDS 2016 | PAGE Hillhouse Capital 176