Tencent has reportedly led a $3bn funding round for e-commerce company Pinduoduo at a $15bn valuation, having previously backed a $110m round in 2016.
China-based online group buying platform Pinduoduo has closed a $3bn funding round led by internet group Tencent, Technode reported today, citing technology news provider 36Kr.
Venture capital firm Sequoia Capital reportedly also participated in the round, which valued Pinduoduo at $15bn, though an unnamed source told 36Kr that the investment may in fact be smaller than $3bn.
Founded in 2015, Pinduoduo operates an e-commerce offering that allows users to utilise social media platforms such as messaging service WeChat to share details…
