Tencent and JD.com team up to take on Alibaba, invest $863m in e-commerce player

Tencent has partnered with e-commerce giant JD.com to invest $863m in online retailer Vipshop, in a bid to take on Alibaba.
The deal strengthens the existing relationship between Tencent and JD.com and brings together China’s largest social media company with its largest retailer and second largest e-commerce company, and Vipshop, a leading online discount retailer for brands.
Tencent and JD.com will purchase Class A shares of Vipshop worth approximately $604m