When it comes to the enviable revenue figures of one billion in one single year, the publicly-traded, foremost Chinese web portal Tencent has accomplished the feat, and the left the other popular social networks well behind!

Tencent, which is a social network, instant message client and a game developer all rolled into one, has managed to touch the one billion yearly revenue figure from the use of virtual goods services and other "Internet valued-added services" (IVAS) - including dating services, avatars, online memberships, music and community sites.

On the whole, Tencent's IVAS grouping yielded $719.1 million - nearly 70.5 percent - of the revenue; while $204.7 million came from mobile and telecom services, and $120.9 million from online advertising.

The Tencent figures are a dramatic contrast to the revenue figures of the American social networks. While MySpace managed nearly $800 million last year, the Facebook revenue figures stood at between $250 million and $300 million.

Tencent's yet-to-be-audited revenue numbers reveal that it is working towards making `more reliable' revenue streams. The company expects lesser revenues from online advertising, as its Chairman and CEO Ma Huateng said in a company statement: "Our online advertising business will experience particular pressure as advertisers reduce or delay their advertising budget, while our user-paid small ticket based entertainment and membership services will be relatively more resilient."