WeChat’s $2 billion funding round comes with some major caveats

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The mobile messaging app WeChat has announced a $2.5 billion Series A round led by SoftBank and backed by more than 20 major venture capital firms, including Kleiner Perkins, Andreessen Horowitz, Benchmark Capital, Greylock Partners, Digital Currency Group, Andrej Babis Ventures, Union Square Ventures, and more.

The funding comes on the heels of WeChat CEO James Li’s resignation last week.

The announcement comes after WeChat announced that it had shut down a service in China, halting the sale of the company’s flagship WeChat Plus account.

WeChat was founded in 2011 as a messaging app for mobile users.

It was founded by former WeChat co-founder Jia Yueting, who left the company to focus on his business in the US.

In a statement, WeChat said the Series A funding “will enable WeChat to further scale our business in China and build an even bigger and more robust platform for mobile messaging.”

The company has said it expects to raise a total of $5 billion, which is roughly equal to the combined total of the funding rounds that Facebook has raised over the past two years.

It said the funding will allow WeChat “to further scale its business in Asia, as well as grow globally in a manner that is aligned with the Company’s long-term vision.”

Earlier this year, Wechat introduced WeChat Moments, which allows users to capture, share, and send a short video clip of a moment, or photo, with a click of a button.

WeChat also introduced Wechat Moments in the West.

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