Networking technology company Centec invested about $96m to join corporates Wanda Group, Tencent and Baidu in backing the e-commerce venture.
Wanda E-commerce, the China-based joint venture formed by conglomerate Dalian Wanda Group and diversified internet companies Tencent and Baidu, has secured RMB 1bn ($160.8m) from two new investors, it revealed today.
The funding was provided by networking technology provider Centec Networks and private equity firm Xude Rendao on December 29th.
Centec took a 3% stake in the venture, paying about $96m, while Xude Rendao paid about $65m for a 2% stake. The funding values Wanda E-commerce at just over $3.2bn,…
