Product development has been a core driver of Tencent’s success since its inception. This chapter investigates the company’s approach to product innovation through two contrasting examples: the long-established QQ, launched in 1999, and the more recent Tencent Docs, introduced in 2017. QQ transformed from a basic messaging tool into a dynamic, revenue-generating platform by embracing iterative innovation, differentiating itself from WeChat, and sustaining strong engagement – especially among younger users. The team preserved QQ’s foundational strengths while deploying micro-innovations and agile strategies to address niche market needs. In contrast, Tencent Docs, a collaborative document-sharing solution akin to Google Docs, showcases strategic innovation rooted in Tencent’s deep B2C expertise. Leveraging its expansive consumer base and social media capabilities, the team executed a B2C-to-B2B transition that enabled rapid adoption in China’s enterprise productivity market. Together, these cases illustrate Tencent’s internal culture of intrapreneurship, user-centric design, and inclusive, agile development – key ingredients for fast-paced innovation and enduring product relevance.