BEIJING -- Tencent has poured another $2 billion into short-video app Kuaishou in a pre-IPO fundraising that brought in a total of $3 billion for the short-video app, Chinese business media LatePost reported.
The new funds value the company at roughly $28.6 billion. Yunfeng Capital, backed by Alibaba founder Jack Ma, also participated in the fundraising, as the e-commerce conglomerate accelerates its investments in live-streaming to boost its online retail business. Boyu Capital, Temasek Holdings and Sequoia Capital are also among the investors.
