Baidu to Buy JOYY’s Chinese Live-Streaming Service for $3.6 Billion


Source: justandroid.net justandroid.net

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Baidu to Buy JOYY’s Chinese Live-Streaming Service for $3.6 Billion 4 Telegram China’s Baidu reported third-quarter revenue above market expectations on Monday and said it would buy social media platform JOYY ‘s video-based live streaming business in China for about $3.6 billion (roughly Rs. 26,800 crores). The company said through the deal it aims to diversify its revenue source, the bulk of which comes from ad sales on its core search engine platform. Baidu’s vibrant mobile ecosystem enables the fast growth of its non-advertising revenue by increasing log-in users and expanding offerings like membership, live streaming and online games, Chief...