Tencent and Alibaba spread battle over the Indian market

Nov 07, 2019 IQIYI

According to foreign media reports, Karn Bedi, the chief executive of the Indian video streaming media service program MX Player, announced that a round of financing of $108 million had been received. And the leader was Tencent in China.

After this round of financing, the MX Player is valued at $500 million. And now, MX Player wants to expand its business in India and other international markets. India is the largest market in MX Player, with 175 million active users per month. In the global context, MX Player has accumulated over 280 million users.

The reason for saying "again" is that on October 3 (Beijing time), Tencent just took part in a new round of $585 million financing for Udaan, an Indian B2B e-commerce platform.

On Sept. 24 (Beijing time), Tencent finally decided to invest about $130 million to $150 million in Etechaces Marketingand Consulting, the parent company of Policy Bazaar, Paisa Bazaar, after months of consultation, according to foreign media quoted people familiar with the matter.