Tencent Joins Naspers in a $1 Billion Funding for India's food delivery startup Swiggy
by Alexandra 2018-12-24
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Tencent Holdings Ltd. joined Naspers Ltd. , Tencent's biggest shareholder, in a $1 billion investment in Indian food delivery service Swiggy, which gains a potentially valuable ally in China’s largest social media and gaming company. The financing was Led by Naspers, South African media giant, along with Tencent, hedge fund Hillhouse Capital and Wellington Management. According to people familiar with the matter, the value of the Bangalore start-up company, which has been established for five years, will increase to $3.3 billion.