Tencent buys 20% stake in VC-backed Dianping
Tencent Holdings has paid an undisclosed sum for a 20% stake in Dianping, a VC-backed online listings provider best known as one of China’s most popular sites for restaurant reviews. The deal comes as China’s internet giants continue to broaden their platforms through strategic acquisitions and alliances.
According to a regulatory filing, a Tencent subsidiary will subscribe to newly issued shares in Dianping, amounting to a 20% stake on a fully diluted basis. It also has the option to purchase additional...
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