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Here's The Latest Sign That China's E-Commerce Market Is White Hot
Here's The Latest Sign That China's E-Commerce Market Is White Hot
Cooper SmithMar 11, 2014, 23:51 IST
The Chinese e-commerce market is becoming an extremely competitive space.With lots of dollars at stake, companies that were not originally e-commerce focused are expanding their services to include digital marketplaces and payments platforms. Most recently comes the announcement that Chinese consumer Internet giant Tencent has paid $215 million for a 15% stake in JD.com (formerly known as 360Buy), China's second-largest e-commerce company by transaction volume. Tencent will get an additional 5% stake in JD.com after the company files for an IPO.Tencent plans to integrate JD.com with its popular messaging app WeChat. More than 300 million people are active on WeChat each month, and the app already has its own built-in payments system. The new partnership means WeChat users will soon be able to purchase a huge array of products from within the app. BI IntelligenceHere are the stats on JD.com, compiled by BI Intelligence: