This Chinese Fashion E-Commerce Giant Just Swallowed Its Top Competitor

2015 was a big year for consolidation in China’s tech scene, and the latest deal between two of the country’s biggest fashion e-commerce platforms shows that mergers still haven’t gone out of style.

Mogujie.com, the $1.7 billion USD social shopping startup, will take control of rival Meilishuo.com through a stock swap, according to unnamed sources who spoke to the Wall Street Journal.

Tencent Holdings Ltd., who previously invested in Meilishuo, will remain a strategic investor following the takeover.

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