China's fashion e-commerce service Mogujie.com has announced a merger with Tencent-backed competitor Meilishuo.com.
The value of the combined company is estimated at 3 billion U.S. dollars. Mogujie founder Chen Qi will become the CEO of the merged company.
The tie-up of the fashion sites, both backed by Hillhouse Capital Management, follows the mergers of travel sites C-trip and Qunar as well as group-buying websites Meituan and Dianping.
Mogujie has 130 million registered users. It raised more than 200 million U.S. dollars in November.
Meilishuo has about 15-thousand merchants on its website and runs a mobile application.