Tencent takes 20% stake in China’s Yelp, will add local listings and restaurant reservations to WeChat

Chinese web and social media titan Tencent (HKG:0700) has revealed this afternoon that it has taken a 20 percent stake in Dianping, a Yelp-style local listings portal that also sells daily deals. Tencent hasn’t revealed any financial details. This major deal will see a lot of Dianping content – such as local listings, consumer reviews, daily deals, online restaurant reservations and take-out ordering services – added to Tencent’s two main social networks, WeChat and QQ.