May 24, 2012, 4:48 PM

Chinese Internet company Tencent will invest $1 billion in e-commerce

Tencent operates online entertainment, gaming and trading portals.

Lead Photo

A big Chinese Internet player is planning a major investment in e-commerce.

Tencent Holdings Ltd. will invest $1 billion in its e-commerce subsidiary, company chairman Ma Huateng announced yesterday. He said the company will build a reliable business-to-consumer e-commerce platform and invest in logistics, warehousing and other assets.

He also said the company will be on the lookout for potential investments in emerging e-commerce companies.

Tencent operates the news and information portal QQ.com, an instant messaging service, the SoSo.com search engine, the trading portal Paipai.com and online payment service Tenpay, and develops online games. Tencent is also a partner with U.S.-based Groupon Inc. to offer daily deals in China.

E-commerce is growing rapidly in China. Forrester Research Inc. estimates online sales will grow 27% a year from 2010 to 2015, reaching $159.4 billion by 2015.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Rochelle Bailis / E-Commerce

Nordstrom vs. Macy’s: a department store showdown

Not only does Macy’s attract more online traffic, more of that traffic comes from mobile ...

FPO

Jaysen Gillespie / E-Commerce

Be a smart marketing Cupid in February to maximize sales

Campaigns optimized for smartphones will capture more last-minute sales and keep in mind that shoppers ...

Research Guides

Advertisement