Wattpad Banks $51 Million From Tencent, Other Investors to Fund Entertainment Projects

Read on: Variety

Wattpad, which hosts a platform with more than 400 million user-generated stories, has raised $51 million from investors including Chinese internet giant Tencent Holdings. Other investors in the round include BDC, Globe Telecom’s Kickstart Ventures, Peterson Group, and existing investor Raine Group. The Toronto-based company said the new funding will go toward expanding entertainment projects […]