Tencent joins Baidu, JD.com on $300M investment in Bitauto
June 07, 2016
Tencent will invest a total of $50 million in Bitauto (NYSE: BITA) and will hold 7.1% of the company upon completion of the transaction. Bitauto is a provider of internet content and marketing services for China's automotive industry. Tencent is an investor in Didi Chuxing, Uber's ride-hailing rival in China.