Tencent provides financing for Kaixin001

    November 30, 2011 | BY

    clpstaff &clp articles

    PRC social networking platform Kaixin001 has received a Series C equity financing from internet company Tencent. In October, Tencent had invested US$40…

    PRC social networking platform Kaixin001 has received a Series C equity financing from internet company Tencent. In October, Tencent had invested US$40 million in Kaixin001 to create a joint social networking site platform.

    Tencent is China's largest internet firm by market value and it operates the largest social networking site QZone. It is also the Mainland's largest online games operator.

    Advising Kaixin001 were Davis Polk & Wardwell and Han Kun Law Offices. Paul Weiss Rifkind Wharton & Garrison represented Tencent.

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