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CHINA BRIEF | Tencent pours USD 14.2 million in digitization solution provider Shushi in angel round

Shushi was founded in June 2020 by Li Kefeng, a former JD.com VP and general manager for Baidu’s mobile business.

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Chinese social and gaming giant Tencent (HKG: 0700) has turned to be an angel investor for Shushi Technology, pouring more than RMB 100 million (USD 14.2 million) in this firm which aims to help companies digitalize their business, according to a post on Tencent Investment’s official WeChat account on Wednesday.

Tencent has acquired a 20% stake in this Beijing-based company, according to private equity investment research firm Zero2IPO.

Shushi Technology, was founded in June 2020 by Li Kefeng, former vice president of e-commerce company JD.com and also general manager for Baidu’s mobile business, according to Tencent Investment, which has not revealed additional information.

However, recruitment information posted by Shushi on Liepin and Lashou, shows that the company has been hiring big data scientists, user interface designers, and technological consultants. Consultants, to whom Shushi is willing to pay monthly salaries as high as RMB 50,000 (USD 7,142), need to analyze, improve, and integrate a company’s external and internal digital tools such as CRM (customer relationship management) software and data business intelligence (BI) software.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.