The newly merged group buying company, named China Internet Plus Group, has raised $2.8bn from backers including Tencent at an $18bn post-money valuation.
China Internet Plus Group, the China-based online local services company formed from the merger of Meituan and Dianping, has raised $2.8bn in funding from investors including internet company Tencent, China Money Network reported yesterday.
Group buying company Meituan and local listings and reviews platform Dianping agreed a $15bn merger in October, and news emerged shortly afterwards the newly formed company would seek additional funding.
Tencent is providing $1bn for the round, which China Internet Plus is raising at an…
