Kuaikan Comics $240 million equity financing round
Davis Polk advised Tencent on its participation in the $240 million equity financing round of Kuaikan Comics. Other investors that participated in Kuaikan’s new financing round include CCB International, South Korean mobile application store operator One Store, Coatue and Tiantu Capital.
Established in 2014 and headquartered in Beijing, Kuaikan is a leading online comics community platform in China. According to its founder and chief executive officer Anni Chen, the platform has nearly 50 million monthly active users, of which those born after 1995 make up more than 90 percent.
The Davis Polk team included partner Miranda So, counsel Xi Shi and registered foreign lawyer Yulan Ouyang. All members of the Davis Polk team are based in the Hong Kong office.