Tencent to allegedly join forces with

Thursday 20 February 2014 00:52 CET | News

Asian internet company Tencent has revealed plans to enter into an e-commerce agreement with Chinese online retailer, online media outlet Bloomberg unveils.

According to the source, as part of the alliance, Tencent would inject its online shopping operations in return for a 6%stake in China-based The partnership would combine’s market, which sells products from electronics to fashion, with Tencent’s e-commerce platform. For, the 272 million users on Tencent’s WeChat messaging service could upgrade the traffic to its online store.

In January 2014, filed an IPO to raise USD 1.5 billion. Online retailing in China more than doubled each year from 2003 to 2011 and is projected to more than triple to USD 395 billion by 2015, according to a McKinsey & Co. report.

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Keywords: Tencent,, China, e-commerce, online shopping, online retailing
Categories: Payments & Commerce
Countries: World
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