Chinese internet giant Tencent, best known for its messaging app WeChat, is further pursuing its e-commerce ambitions after announcing today that it is paying $736 million for a 19.9 percent stake in 58.com, commonly known as “China’s Craigslist.” The agreement will see 58.com’s services being integrated into Tencent’s networks including WeChat (China has a version known as Weixin) and social platform QQ. Giving a glimpse into how the partnership will look like, a press statement revealed that users can access social tools to find recommended merchants, and communicate not only with one another but also with retailers. This latest deal comes hot…
This story continues at The Next Web