Chinese tech giant Alibaba is doubling down on India’s burgeoning video market, looking to fight back local rival ByteDance, Google and Disney to gain its foothold in the nation. The company said today that it is pumping $100 million into Vmate, a three-year-old social video app owned by subsidiary UC Web.
Vmate was launched as a video streaming and short-video-sharing app in 2016. But in the years since, it has added features such as video downloads and 3-dimensional face emojis to expand its use cases. It has amassed 30 million users globally, and will use the capital to scale its busin
Alibaba said it was disappointed by the decision, and questioned whether it might have been influenced by the current political climate. “We are far more effective and advanced in [intellectual property rights] protection than when the USTR took us off the list four years ago,”
gary (#1) 2688 days ago World & Business us agency alibaba All https://www.wsj.com Discuss Facebook Share
Alibaba invests in small smartphone maker
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