Tencent Invests over CNY 100 Million in Two-Month-Old Startup
Is the Shenzhen Internet behemoth preparing another unicorn?
Freshly founded in June 2020, China’s enterprise digitalization solution startup Shushi Technology (Shushi, 数势科技) has nabbed over a hundred million yuan angel financing round. Tencent's investment wing backed the funding; Tencent (00700:HKEX) has been bold in recent financing events.
Making a record in startup angel round history of the filed Shushi’s founder and CEO Kenny Li (黎科峰) is an iconic figure in his area. After obtaining a doctorate in 2008, Li worked successively for Samsung (005930:KR), Baidu (BIDU:NASDAQ), Ping An Technology and JD.com (JD:NASDAQ, 09618:HKEX) from an engineer, CTO to Vice President.
During Li’s career at JD.com, he led and completed the corporate’s middle platform’s construction, packaging the company’s business capability to be used for all business units internally. The experience gained Li recognition in the field of enterprise digitalization. The know-how of the founder is the most precious asset for the newborn startup.
Shushi’s investor, China’s internet giant Tencent, just announced the intention to acquire Sogou (SOGO:NYSE) at USD 9 per ADS. The giant has been active in corporate strategic investment in recent days, including spending hundreds of million yuan in the angel round of a fresh startup.