Video site backed by Tencent said to be seeking US$17b price
Beijing
A CHINESE startup backed by Tencent is seeking to raise funds at about a US$17 billion valuation, people familiar with the matter said, as it expands its video-streaming service to South-east Asia.
The company, Kuaishou, is targeting around US$1 billion of financing, the people said, asking not to be identified discussing a private deal. The startup's desired valuation would be almost six times the US$3 billion it garnered after its last fundraising in March, the people said.
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