{"id":35749,"date":"2017-03-31T02:43:25","date_gmt":"2017-03-31T09:43:25","guid":{"rendered":"http:\/\/lifeboat.com\/blog\/2017\/03\/chinese-internet-giant-tencent-buys-5-of-tesla"},"modified":"2017-06-04T07:07:00","modified_gmt":"2017-06-04T14:07:00","slug":"chinese-internet-giant-tencent-buys-5-of-tesla","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2017\/03\/chinese-internet-giant-tencent-buys-5-of-tesla","title":{"rendered":"Chinese internet giant Tencent buys 5% of Tesla"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/chinese-internet-giant-tencent-buys-5-of-tesla.jpg\"><\/a><\/p>\n<p>Tencent, Asia\u2019s second highest valued tech firm, has bought a five percent share in Tesla. <a target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1293451\/000095010317002811\/dp74362_sc13g.htm\">According to a filing<\/a>, the Chinese firm scooped up 8,167,for around $1.7 billion to become one of Tesla\u2019s largest shareholders.<\/p>\n<p>The news itself sent Tesla\u2019s share price up three percent in pre-market trading. The purchase was arranged on March 17, and those now-Tencent-owned shares are worth around $2.2 billion at current market value.<\/p>\n<p>Tencent is a prolific investor. It holds equity in Snap, this year\u2019s hot tech IPO, among others following <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2013\/11\/20\/tencent-snapchat\/\">an early investment<\/a>. While that interest in messaging makes sense since Tencent\u2019s operates China\u2019s dominant chat app \u2014 WeChat \u2014 it isn\u2019t immediately clear whether the Tesla investment has strategic undertones. An alliance with Tencent could significantly boost Tesla\u2019s efforts in China, which is already impressive. Chinese sales accounted for <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-03-02\/tesla-overcomes-china-stumbles-as-sales-triple-pass-1-billion\">15 percent of Tesla\u2019s $7 billion revenue<\/a> last year.<\/p>\n<p><!-- Link: <a href=\"https:\/\/techcrunch.com\/2017\/03\/28\/tesla-tencent-investment\/?ncid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&sr_share=facebook\">https:\/\/techcrunch.com\/2017\/03\/28\/tesla-tencent-investment\/?...e=facebook<\/a> --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tencent, Asia\u2019s second highest valued tech firm, has bought a five percent share in Tesla. According to a filing, the Chinese firm scooped up 8,167,for around $1.7 billion to become one of Tesla\u2019s largest shareholders. The news itself sent Tesla\u2019s share price up three percent in pre-market trading. The purchase was arranged on March 17, [\u2026]<\/p>\n","protected":false},"author":423,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[418],"tags":[],"class_list":["post-35749","post","type-post","status-publish","format-standard","hentry","category-internet"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/35749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/423"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=35749"}],"version-history":[{"count":2,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/35749\/revisions"}],"predecessor-version":[{"id":58242,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/35749\/revisions\/58242"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=35749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=35749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=35749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}