IDG commits $24m to Kingsoft’s cloud computing unit
IDG Capital Partners has agreed to invest $24.06 million in Kingsoft Cloud Group as part of a funding round led by the cloud computing venture’s parent company, Kingsoft.
The Hong Kong-listed software developer's contribution will be $28.6 million, according to a filing, taking its holding from 52.10% to 52.29%. IDG will take a 3.98% stake in the business. Both groups are...
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