Dianping, a China-based group buying company previously backed by Google, has raised more than $100m in its series C round at a $1bn valuation.
News provider PEDaily said venture capital firms Trust Bridge Partners, Sequoia Capital, Qiming Venture Partners and Lightspeed Venture Partners provided the C round, without mentioning Google.
Sequoia had invested in Dianping’s A round at the start of 2006 with Google joining in May 2007’s B round.