Tencent led a $3bn funding round raised by e-commerce platform Pinduoduo at a $15bn valuation.
China-based online group buying platform Pinduoduo completed a $3bn funding round, which was reportedly led by internet group Tencent at a $15bn valuation. The round also reportedly featured venture capital firm Sequoia Capital. Tencent had previously backed a $110m series B round raised by Pinduoduo in 2016, which included investment firm Banyan Capital and private equity fund New Horizon Capital.
Founded in 2015, Pinduoduo runs an e-commerce offering that allows users to utilise social media platforms to form purchasing…
