Chinese tech giants Tencent, ByteDance smell opportunity brewing in cafe chains

Photo by Fabian Blank on Unsplash

Tencent Holdings and ByteDance are among the Chinese tech companies betting that their products and coffee shops will go together as good as, well, coffee and cream.

Despite last year’s Luckin Coffee accounting scandal still fresh in the minds of many, China’s up-and-coming coffee chains have become the favorite of many of the country’s largest tech companies, which can smell opportunity brewing.

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