Sequoia Capital, Tencent Holdings and MediaTek Invest More Than US$200 Million in E-commerce Platform Mmb.cn (Asia)
Source: Mmb.cn, Asian Venture Capital Journal | Author(s): Tim Burroughs
China-based investment holding company Tencent Holdings and Taiwan-based semiconductor manufacturer MediaTek have led a financing round worth more than US$200 million for China-based e-commerce platform Mmb.cn. Existing investor venture capital firm Sequoia Capital also participated in the round. Mmb.cn intends to use the new capital to build a nationwide warehouse network, as well as for investment in research and development. Sequoia, Tencent and Far East Holding Group, a company engaged in wire cable businesses, all invested in Mmb.cn between 2007 and 2012, committing more than RMB400 million (approximately US$65 million) between them.