Davis Polk advised Tencent on the deal.
Kuaikan Comics closed its $240 million equity financing round. Tencent participated in the round. Other investors that participated in Kuaikan’s new financing round include CCB International, South Korean mobile application store operator One Store, Coatue and Tiantu Capital.
Established in 2014 and headquartered in Beijing, Kuaikan is a leading online comics community platform in China. According to its founder and chief executive officer Anni Chen, the platform has nearly 50 million monthly active users, of which those born after 1995 make up more than 90 percent.
The Davis Polk team included partner Miranda So (Picture), counsel Xi Shi and registered foreign lawyer Yulan Ouyang.
Law Firms: Davis Polk & Wardwell;
Clients: Tencent Holdings Inc.;