Scalper1 News
Chinese Internet giant Tencent plans to buy a nearly 20% stake in 58.com, moving Tencent further into local e-commerce and elevating its rivalry with fellow Internet king Alibaba. Tencent’s flagship products are social-messaging apps and browsers, but Friday’s announcement marks its second big e-commerce investment this year. The deal is expected to step up Tencent’s rivalry with Alibaba, said to hold 80% of China’s e-commerce Scalper1 News
Scalper1 News