According to Wall Street Journal, the Chinese Giant, Tencent, has agreed to pay $215 million for a 15% stake in JD.com.
JD.Com’s planning on a $1.5 billion IPO.
JD.com, formerly known as 360buy.com, is a distant second in the Chinese e-commerce market to Alibaba’s shopping sites, Taobao.com and Tmall.com.
It was recently revealed that 360buy.com paid $5 Million dollars for the domain name JD.com.
The company announced the change from 360buy.com to JD.com last March.
