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MX Player Pulls in $111M Investment

Thursday, Oct 31 2019
APAC
Written by  CMO Tech News Staff
MX Player Pulls in $111M Investment

Chinese internet behemoth Tencent helped lead a $110.8 million investment in MX Player, an ad-supported video app popular in India that offers streaming services and local playback. So reports Tech Crunch.

The company is looking to expand both internationally and in India. Times Internet, which bought a majority stake in the company in 2017, also participated in the funding round that reportedly pushed the value of the company to $500 million. "The video streaming market in India is on track to be worth $1.7 billion in the next four years,” according to the article.

Read the full article from Tech Crunch.

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