Ten­cent to in­vest in ‘Chi­nese In­sta­gram’

New Straits Times - - Business -

HONG KONG: Ten­cent Hold­ings has agreed to in­vest in Chi­nese live broad­cast­ing app Kuaishou ahead of a po­ten­tial ini­tial public of­fer­ing of the Baidu-backed startup, say sources. Ten­cent and Kuaishou plan to an­nounce the deal as soon as this week. Ten­cent has been boost­ing spend­ing on ser­vices in­clud­ing video-stream­ing to re­tain users for its WeChat and QQ mes­sag­ing plat­forms. Kuaishou runs a live-stream­ing so­cial me­dia plat­form sim­i­lar to Twit­ter’s Periscope and In­sta­gram. Agen­cies

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