Company profile: Tencent
Three companies backed by Tencent have announced their intention to hold initial public offerings (IPOs), adding billions more in potential liquidity to the corporate but, probably more importantly, liquidity to continue expansion and longer-term alliances between the internet conglomerate and portfolio company partners.
Content aggregating app Qutoutiao filed for an IPO in the US with a $300m target. Tencent is among the backers of the two-year-old company. It reportedly led a $200m round for a 7.8% stake in March that…
