Tencent acquires 20% stake in for USD 736 million

Monday 30 June 2014 11:45 CET | News

Chinese internet service provider Tencent has acquired a 19.9% stake in, which is China’s answer to Craigslist, for USD 736 million.

Tencent revealed today that’s listings will be integrated with WeChat, a messaging app, as well as with Tencent’s QQ IM. Tencent is paying USD 40 per share for

In May 2014, Tencent has revealed plans to acquire an 11.3% stake in digital mapping service provider Navinfo, reports.

Check out our Cross-border Ecommerce Research section for more info on specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation in China.

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Keywords: Tencent, ecommerce,, China, WeChat
Categories: Payments & Commerce
Countries: World
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