Tencent has invested in Maoyan at a $3bn valuation, two months after the ticketing platform agreed to merge with its peer Weiying Technology.
China-based ticketing app operator Maoyan has raised RMB1bn ($150m) from internet group Tencent at a $3bn valuation, Reuters reported on Wednesday.
Maoyan operates an online movie ticketing platform it claims has a 65% share of the Chinese market. It was founded in 2012 by group buying service Meituan, ahead of the latter’s merger with local services platform Dianping.
Meituan-Dianping spun Maoyan out in April 2016, before TV and film producer Enlight Media paid $384m for a 57.4% stake in the business…