Tencent Invests in Zhuan Zhuan

Paul, Weiss advised Chinese internet giant Tencent in the Series B financing round in Zhuan Zhuan, a China-based used-goods trading platform operated by 58.com, China’s largest online marketplace for classifieds. The round is valued at  approximately $300 million. 58.com will remain the majority shareholder of Zhuan Zhuan following the transaction. Paul, Weiss previously represented Tencent in the $200 million cash investment in Zhuan Zhuan in 2017.

The Paul, Weiss team included corporate partner Judie Ng Shortell.