Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Tencent Buys 20% of China’s for $736 Million

June 28 (Bloomberg) -- Tencent Holdings Ltd. agreed to buy a 19.9 percent stake in Inc. for $736 million, as Asia’s largest Internet company adds to investments this year that include purchasing a stake in e-commerce website Inc.

Tencent will buy 36.8 million Class A and B ordinary shares in Chaoyang, China-based at $20 each, according to a statement distributed through PR Newswire yesterday. The two companies also agreed to use each other as preferred partners for local services, according to the statement.

The investment in, which provides online classified ads, will expand the choice of local services and merchants available to Tencent users, according to the statement. The tie-up will help build’s user base by capturing traffic from Shenzhen-based Tencent’s messaging services WeChat and QQ, the companies said.

Tencent is adding games and advertising services to messaging applications including WeChat, known as Weixin in China, as it competes with Alibaba Group Holding Ltd. and Baidu Inc. The company is counting on its apps and games like Blade & Soul and Candy Crush Saga to win a bigger slice of China’s 618 million Internet users as they migrate toward content on smartphones.

Tencent in March agreed to buy a 15 percent stake in and transfer some of its own assets to build a stronger competitor to Alibaba. In February, it acquired 20 percent in Dianping, the operator of a Yelp-like website in China, to strengthen location-based services.

To contact the Bloomberg News staff on this story: Zhang Dingmin in Beijing at

To contact the reporter on this story: Zhang Dingmin in Beijing at To contact the editors responsible for this story: Andreea Papuc at Joshua Fellman, Ben Livesey

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.