Tencent Backs its Former QQ Head’s Zoom-for-Business Startup
- Zego offers real-time voice, video technology solutions
- Rival Agora raised $350 million in U.S. listing this year
Photographer: Qilai Shen/Bloomberg
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Tencent Holdings Ltd. led a $50 million investment in real-time communications software developer Zego, underscoring widespread interest in online education and videoconferencing in the post-pandemic era.
The Shenzhen-based startup’s financing round was also joined by existing backers Qiming Venture Partners and IDG Capital, Zego said. The company -- now part of Tencent’s massive investment portfolio -- didn’t disclose its latest valuation.