Chinese Giant Tencent has invested $110M into the video OTT (over the top) platform MX Player. This is it’s first external fundraising after acquisition by Time’s internet.
Crux of the Matter
MX Player is the second most used OTT in India after Hotstar.
It has 175 Million active users in India and 275 million active users worldwide.
MX Player would utilize the money to curate more content of varying genre.
“Our vision is to be one of the world’s largest entertainment platforms , serving our users across their online entertainment needs starting with streaming video and beyond,” said Karan Bedi, CEO MX Player
Curiopedia
Tencent Holdings Limited is a Chinese multinational conglomerate holding company founded in 1998, whose subsidiaries specialise in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally. Its twin-skyscrapers headquarters Tencent Seafront Towers (also known as Tencent Binhai Mansion) are based in Nanshan District, Shenzhen. Tencent is the world’s largest gaming company, one of the world’s most valuable technology companies, one of the world’s largest social media companies, and one of the world’s largest venture capital firms and investment corporations. Its many services include social network, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games, which are all among the world’s biggest and most successful in their respective categories. More Info
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