Global Social Media Leader BIGO Technology Grabs $272 Million Series-D Funding Led by YY Inc.
Friday, 08 June 2018, 19:19 IST
Singapore based fast-growing global video-based social media platform, Bigo Technology has raised a series-D funding of $272 million from one of the live streaming social media platform, YY Inc. Listed in NASDAQ, YY Inc. is now the largest shareholder after the series D funding for Bigo.
India being a significant market for Bigo, it aims to utilize this investment to strengthen their R&D platform in India and rise further globally. With more than 25 million users from the country, the Bigo LIKE mobile app accounts more than 50 percent of users globally. It has also created video-based global online communities such as Bigo LIVE, CubeTV, and Hello Yo and for the tech savvy young people around the world.
Speaking on the occasion, Aaron Wei, Global Vice President, LIKE, says, “With the current funding we aim to strengthen our platform and increase our consumer reach. India is a significant market for us and we aim to expand and also hire great talents in technology space and also content creators. We have started Million Dollar Talent Hunt in India on LIKE to look for unique content creators. Indian youth have great potential and we are receiving and overwhelming response for our talent hunt.”
Founded in 2016, Bigo Technology is an innovative internet company that focuses on video broadcast and VoIP related products and services all over the world. Its products include BIGO LIVE, LIKE, HELLO and CubeTV. It has become the most popular App and ranked #1 in Apple App Store and Google Play in Thailand since launch.
BIGO LIKE, is a short video editing and sharing platform founded in August 2017 which recently announced an initiative named ‘Million Dollar Talent Hunt’ that aims at enabling the budding talents to combine their skills and their talent to gain global attention. Users can earn a reward of $200 for a video and a job offering $1500. With this investment, Bigo LIKE plans to strengthen mobile app’s features, offerings and develop AI technologies to give users an experience they never had before.
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