Rumor: Tencent Invests $60million in Okbuy.com Series C Financing

Tencent is rumored to have invested $60 million as Series C financing, into OKbuy.com, a Beijing-based B2C footwear e-tailer, according to tech.sina.com.cn. Techweb.com.cn has earlier reported that the company was in middle of fundraising since Dec 2010.

The footwear e-tailer had previously stated that its sales revenue in 2010 is expected to exceed Rmb200 million.

OKbuy management did not comment, whilst Tencent investor relations team did not provide clear comments regarding the issue.

Earlier, Tencent announced $84million investment into Qiyi.com, a Hulu-like service started by Baidu.com, for a 16% stake and became its second largest shareholder.

 

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