Dianping secures $850m pre-IPO round
Having raised $850 million - the largest disclosed round for a Chinese tech start-up so far this year – in a matter of months, Dianping is now thought to be nearing an IPO. The investment values the 12-year-old company, described as a Chinese version of Yelp and Groupon, at $4.05 billion, well into unicorn territory.
Backers include Singapore's Temasek Holdings, private equity firm FountainVest Partners, Chinese conglomerates Wanda Group and Fosun Group, and smart phone maker Xiaomi. The largest investor in the round,...
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