Tencent Holdings Ltd. has made an investment in Chinese knowledge sharing platform Zaihang and Fenda, the start-up announced on its Wechat public account without disclosing the size of the round.
The company says that it has raised over RMB200 million (US$29 million) cumulatively after the latest capital injection since its establishment over a year ago.
Considering that Fenda raised US$25 million from Vision Plus Capital, Sequoia Capital, Wang Sicong and Luoji Siwei in June and an earlier pre-A round, the Tencent investment should be small in size.
“Tencent believes in the potential of knowledge sharing, which is perfectly supplementary to our own ecosystem,” said Xia Yao, managing director of Tencent’s investment division. “We believe Zaihang and Fenda will become one of the most important knowledge sharing platforms in China.”
Zaihang, launched earlier in 2015, allows users to request audio calls or meet in person with thousands of experts including consultants, investors, executives for a fee.
Fenda is an audio Q&A knowledge sharing mobile app that was released in May and rapidly attracted enormous popularity by enlisting Chinese celebrities including Wang Sicong, the son of China’s richest man Dalian Wanda Group’s chairman Wang Jianlin (pictured), to discuss titillating subjects such as bedroom habits.
Fenda was suspended for a couple of months during the summer, purportedly because China’s propaganda bureau feared negative social impact. It came back in September after having toned down its content.