Consumer goods portal Zhuan Zhuan will bolster its coffers with funding from controlling shareholder 58.com and existing investor Tencent.
China-based used consumer goods portal Zhuan Zhuan agreed $300m in series B funding yesterday from investors including its parent company, classified listing marketplace 58.com, and internet group Tencent.
58.com will remain Zhuan Zhuan’s majority shareholder following the round, which is set to officially close in the fourth quarter of 2019 subject to customary closing conditions.
Launched in 2015 as part of 58.com, Zhuan Zhuan is an app-based online marketplace where users can buy or sell second-hand items including mobile phones,…
