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Economy

Tencent invests in story platform

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2018-01-18 13:17Global Times Editor: Li Yan ECNS App Download

Tencent Holdings has completed an investment of about $50 million in Toronto-based storytelling app Wattpad, media reports said on Wednesday.

That investment combined with funds from other venture capital firms made up a financing round that put the Canadian company's valuation at $400 million, according to media reports.

Founded in 2006, Wattpad, also known as WP Technology Inc, operates a social platform that creates direct connections between readers and writers.

  

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