Tencent and JD.com invest $863M into e-commerce firm Vipshop to battle Alibaba

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 Tencent, the internet giant that recently became Asia's first $500 billion company, is continuing its investment spree after it agreed to buy $604 million in shares of Chinese online retailer Vipshop. The deal is being made with long-time partner JD.com, which will invest $259 million into Vipshop, which is listed on the New York Stock Exchange. That takes the total between the two to… Read More

December 17, 2017 at 05:38PM