Chinese social media-based e-commerce firm Pinduoduo is reported to have raised a US$3 billion investment round led by Tencent Holdings, at a valuation of US$15 billion. The news, reported by Chinese local media, could not be confirmed at time of publication. Pinduoduo allows users to participate in group buying deals with their friends, mostly via Tencent’s Wechat app. It provides deals in various segments, from food, cosmetics to baby products. The company previously raised money in July, 2016, when Banyan Capital, …

Tencent Said To Lead $3B Round In E-commerce Site Pinduoduo At $15B Valuation appeared first on China Money Network.


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