![]() So far, Tencent has invested in eight Indian companies, including BYJU's, Dream11, Hike, Swiggy, and Ola. 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. This is reportedly Tencent's third investment in 2019. 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. Following a period of rapid growth and innovation, the China internet sector has entered a new phase of development with both push and pull factors driving internet companies to evolve, including. ![]() Two insiders revealed that the transaction was completed about three to four weeks ago and the company's valuation was about USD1.5 billion. 2.1 Chinas policymakers pay increasing attention to ethics in the context of AI governance Starting with the publication in 2017 of the State Councils New. 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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