Tencent, which in turn is backed by South Africa media group Naspers' corporate venturing unit, invested $84.4m in eLong for a 16% stake.
China-based media group Tencent and Expedia, a US-based travel booking company, have invested $125.6m in eLong, an online holiday services provider.
Expedia has taken majority ownership of eLong by buying 8% of the portfolio company for $41.2m to own 56%.
Tencent, which in turn is backed by South Africa media group Naspers’ corporate venturing unit, invested $84.4m in eLong for a 16% stake.
The investment in eLong represents the first significant investment in the travel market by Tencent,…
