Shanghai-based Yelp-like review website Dianping.com has reportedly completed US$850 million series E financing from Singapore’s Temasek Holdings and FountainVest Partners, according to Chinese media reports.
Other potential investors include Chinese conglomerate Dalian Wanda Group and Hanking Family Office.
Representatives of Dianping.com could not be reached for comment.
The news came after Dianping’s major rival, Meituan’com, announced US$700 million series D financing based on a valuation of US$7 billion in January 2015.
In February 2014, Tencent Holdings Limited acquired a 20% stake in Dianping.com in a strategic investment.
Founded in 2003, Dianping received US$2 million series A funding from Sequoia Capital in 2006. It received US$25 million series B from Google and Sequoia Capital the next year.
In 2011, Sequoia Capital, TBP Capital, Qiming Venture Partners and Lightspeed Venture Partners made a US$100 million series C investment in Dianping.
Its series D round of US$64 million was completed in 2012 from investors including Sequoia Capital.