Dianping, the leading Chinese ratings & reviews service,confirmed today that Tencent has bought a 20% stake in it. The price isn’t disclosed.
Merchants’ profiles, ratings & reviews, group-buying and online restaurant ordering service on Dianping will work with Tencent’s QQ IM, WeChat and other services, according to the statement.
Dianping hopes to take advantage of Tencent’s user base, social and other resources to accelerate its nationwide expansion, especially when it comes to thirdor fourth tier cities where Tencent’s products have been dominating, acccording to Zhang Tao, CEO of Dianping. Dianping claimed that it had the largest market share in first and second tier cities by the end of 2013.
Dianping’s group-buying service has been integrated into WeChat that users can make orders within and pay with WeChat Payment.