China’s social media giant Tencent Holdings Ltd. has led a series B round worth several hundred millions of RMB in Hangzhou-based e-commerce platform Haoyiku. IDG Capital, K2VC and Vision Capital also participated in the round, according to Aiyiku’s announcement. Haoyiku was founded in December 2017 by Wu Qiangqiang, former general manager at Alibaba’s bargain deal site Juhuasuan. Haoyiku targets consumers in third-tier to fifth-tier cities in China. It connects fashion brands and merchants via Tencent’s social media WeChat with consumers. …

Tencent Expands E-commerce Investment By Leading Hundreds Of Millions Of RMB In Haoyiku appeared first on China Money Network.