![]() So far, Tencent has invested in eight Indian companies, including BYJU's, Dream11, Hike, Swiggy, and Ola. ![]() Today, it’s worth 1,454,929x its 3 million yuan asking price. The lack of demand turned out to be a pretty lucky break. ![]() The third-party mobile payment market in. This is reportedly Tencent's third investment in 2019. Tencent was aiming for 3 million yuan in a sale (431k at today’s exchange rate), but the highest offer it received was for 600k yuan (86,327). Watch the Latest from AppleInsider TV According to a report from South China Morning Post on Monday, adoption of Apple Pay in China will take some effort. With the investment, Tencent will gain a 7% to 10% stake in PolicyBazaar. It is said that Tencent will invest at least USD130 million in PolicyBazaar and the Chinese company may increase the investment to USD150 million. The insiders emphasized that Tencent already acquired newly issued shares of this Gurgaon-based company however, it has not been able to verify by the outside world if Tencent acquired newly issued shares or secondary stock. Feidee, a company that makes personal financial management apps, says that 93 per cent of its users are young customers born after the 1980s, and 42 per cent of these were born after the 1990s. Two insiders revealed that the transaction was completed about three to four weeks ago and the company's valuation was about USD1.5 billion. According to reports in foreign media, after several months' negotiation and communication, China's technology giant Tencent finally decided to invest about USD130 million to USD150 million into Etechaces Marketing and Consulting, parent company of PolicyBazaar and PaisaBazaar.
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