Serving business clients using huge social media data has long been Tencent’s dream and its latest bet reflects that, coming just a few weeks after quarterly results underlined the benefits of its diversification efforts.
On Thursday, the Chinese gaming and social media giant announced a sole investment into a customer relationship management platform. Forming its Series E fundraising, Beijing-based IngageApp received $120 million from Tencent.
The proceeds will be used for research and to help develop the technology in Tencent's ecosystem. IngageApp, a software-as-a-service platform, will also use Tencent’s resources to search for more corporate clients.
It is the third...