Tencent joins a hundred-million dollar funding round for Chinese job app Boss Zhipin

Boss Zhipin, the Chinese hiring app and HR platform, recently closed a funding round scaling hundreds of millions of dollars according to reports.

A person close to the transaction disclosed that this round of financing consisted “multiple tranches, with E1 and E2” tranches. Tencent participated in and led one of the rounds, accounting for nearly 10% of the shares after the investment.

It is understood that Boss Zhipin was established in 2014, and its product is an online job search app. In the past few years, it completed a total of five rounds of financing. The last round was a US$28 million round C financing in September 2016. Meridian Capital China and GaoRong Capital led the investment, Ceyuan Venture Capital, Heyu Alternative Investment, Capital Today and Shunwei Capital also participated in the round.

At the media communication meeting of the fifth anniversary not long ago, Zhao Peng, the founder and CEO of Boss Zhipin revealed to the media for the first time that the annual revenue of the company has reached 1 billion RMB, maintaining a modest monthly profit. At the same time, Zhao Peng emphasized that the company was ready for IPO after 5 years of establishment.

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