Internet company Tencent is taking 15 per cent stake in e-commerce company JD.com for $215 million.

As part of the transaction, JD will acquire 100 per cent interests in Tencent’s QQ Wanggou B2C and Paipai C2C marketplace businesses, logistics personnel and assets, and a minority stake in Yixun.

The partnership aims to challenge the leading e-commerce company Alibaba, owner of Tmall and Taobao, and has a market value of $150 billion.

Tencent, a social media and gaming company, said the partnership also combines its e-commerce initiative with JD’s to extend its presence in the fast-growing physical goods e-commerce market and to achieve economies of scale.

The company plans to take another five per cent stake in JD.com after its $1.5 billion US IPO.

JD.com was advised by Bank of America Merrill Lynch and China Renaissance and Barclays Bank served as financial adviser to Tencent.