SHANGHAI Feb 19 Chinese social media leader
Tencent Holdings Ltd has bought 20 percent of
Dianping, operator of China's largest restaurant review and
business listing site, for an undisclosed sum, Tencent said in a
filing to the Hong Kong Exchange on Wednesday.
"Dianping's high quality local life content, such as
merchant information, consumer reviews, discount, group buying,
online restaurant reservation and take out ordering services,
will be integrated with Tencent's social communications
platforms such as QQ and Weixin, as well as other Tencent
products," Tencent said in a press release issued on Wednesday.
Dianping is similar to U.S. firm Yelp Inc and
group-buying site GroupOn Inc. QQ and Weixin, or WeChat
as it is known outside China, are Tencent's main social
networks, with mobile messaging app WeChat having taken China by
Dianping has more than 90 million active monthly users in
over 2,300 Chinese cities, whom it connects to more than eight
million sellers, according to Dianping's official website.
Dianping is planning an initial public offering within the
next five years, possibly in the United States, according to
Chinese media reports.
(Reporting by Adam Jourdan; Editing by Christopher Cushing)