Moreover, the recent funding raises the company’s valuation at USD 3 billion (CNY 20 billion), bharatpress.com reports.
Wanda E-commerce was founded in August 2014 as a USD 814 million (CNY 5 billion) joint venture by mega-conglomerate Wanda and the web services companies Tencent and Baidu.
Tencent and Baidu each hold 15% of Wanda E-commerce. Wanda E-commerce uses Tencent products like the payment services TenPay and Weixin Payment.
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