Tencent Holdings has completed an investment of about $50 million in Toronto-based storytelling app Wattpad, media reports said on Wednesday.
That investment combined with funds from other venture capital firms made up a financing round that put the Canadian company's valuation at $400 million, according to media reports.
Founded in 2006, Wattpad, also known as WP Technology Inc, operates a social platform that creates direct connections between readers and writers.
