Chinese internet giant Tencent's billion-dollar India bet

Chinese internet giant Tencent's billion-dollar India bet

Tencent Chairman and Chief Executive Officer Pony Ma Huateng attends a news conference announcing the company's results in Hong Kong, China March 17, 2016. REUTERS/Bobby Yip

In April, when Tencent Holdings Ltd ploughed $700 million into India’s most valuable Internet start-up Flipkart, it sent out a clear message to the country’s rapidly growing start-up and venture-capital ecosystem: the Chinese Internet behemoth means business.

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