Tencent is reportedly in line to invest $1bn in the local services platform's latest round, which will be between $3bn and $5bn in size and will value it at up to $30bn.
China-based local services platform Meituan-Dianping has entered discussions with investors including internet group Tencent concerning a round sized between $3bn and $5bn, Reuters reported today, citing a person with direct knowledge of the matter.
Tencent is likely to provide $1bn of the funding, with the round set to value the company at between $25bn and $30bn, the person said.
Local media reports cited by China Money Network state that venture capital group IDG Capital is in talks to lead the…
