News and Announcements
Stashd App Secures Deal with Online Shopping Giant Tencent
- Published October 25, 2016 3:01PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
24th October 2016, The Australian By Glenda
Jessica Wilson, CEO and Founder of Stashd, has secured a deal with internet giant Tencent.
The largest app store in China, Tencent, has taken a 10 per cent stake in Stashd and TenCent Leilai will become a strategic shareholder to help with the localisation and expansion into China. Stashd will be assisted with local marketing teams, recruitment assistance, access to the market through their app store working from the TenCent Innovation Centre in China.
Tencent is the owner of the largest app store in China (700 million users) and the largest social network in China (WeChat). Stashd will integrate into WeChat and with WeChat pay for optimal localisation.
The deal was secured after Jessica a Sydney-based entrepreneur, featured as a global finalist in reality television show The Next Unicorn, a combination of Shark Tank and The Apprentice. The show also helped with the exposure of Stashd in China, with a viewing audience of more than 15 million Chinese. Stashd featured within the best new apps of the TenCent app store three weeks after launch.
The vision is to make Stashd the go-to app for Chinese millennials to shop western fashion.
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