Mmb.cn Receives $200M Financing Led By Tencent, MTK

Wuxi, Jiangsu province-based mobile Internet e-commerce company Mmb.cn has received a new round of financing, raising more than US$200 million, according to media reports.

Tencent and Taiwan-based fabless semiconductor company MediaTek Inc. (MTK) led the round. Existing investor Sequoia Capital also participated.

The company previously raised more than RMB400 million ($65 million) from Far East Holding Group, Sequoia Capital and Tencent from 2007 to 2012. Mmb.cn was acquired by Tencent in 2012.

Founded in 2006, Mmb.cn started as an e-commerce retailer targeted at rural consumers in China. The company now has 2000 employees, with branched in Beijing, Guangzhou and Shenzhen.

Earlier this month, Tencent acquired a 15% stake in another e-commerce firm JD.com for US$214.7 million.

 
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