500CCC Confirms Acquisition by Tencent
DoNews, 10/04/12
Following reports that Beijing-based online 3C products retailer 500ccc.com's team had been disbanded, a 500CCC spokesperson confirmed on September 29 that the company had been acquired by Shenzhen-based internet company Tencent (0700.HK), but denied that the company had been completely dissolved. While some 500CCC employees have left the company, technical staff continue to work as normal, the spokesperson said.
Previously, an industry source had stated in a microblog posting that 500CCC had been dissolved, and that Tencent's B2C 3C e-commerce subsidiary 51buy.com had hired four former 500CCC employees.
Keywords: e-commerce Internet B2C Tencent 0700.HK 500CCC M&A HR
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