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Business · TMT
Tencent invests USD 2.3 mln in Chinese online marketing start-up for 4% equity
2018/11/08 03:06:33
China's News, China's Financial News, Tencent

Nov 08, 2018 (China Knowledge) - Linzhi Tencent Technology Co., Ltd., a subsidiary of Tencent Holdings Ltd <0700:HK> has recently invested USD 2.3 million (RMB 16 million) in Chinese online marketing start-up, Shengcan Technology, for 4% equity in the company. Besides Linzhi Tencent, SZZT Electronic will also be investing RMB 20 million in the company.

Shengcan Technology is a solution provider for companies that require online or mobile marketing services and the establishment of open application programming interfaces for WeChat usage. The company is involved in the different value chain of marketing for its clients, from consultation, to design and mobile payment services.

The company is also able to facilitate data analysis and precision marketing through the data collected from Tencent cloud. Shengcan Technology has recently expanded its services to banks, where the company is helping in the development of new fintech service ecosystem.

Dowson Tong, Senior Executive Vice President of Tencent has announced the company goals of being an integrated digital assistant to serve and support businesses through consolidation of its resources and working with partners across different industries.

Shengcan Technology has its shares traded on the National Equities Exchange and Quotations Co., Ltd, the Chinese over-the-counter system for trading shares of a public listed company not listed on the Shenzhen or Shanghai stock exchanges. They have, currently, the ticker number 002197. 

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