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Cheetah Mobile’s video streaming app live.me raises $50m from Bytedance

Cheetah Mobile’s video streaming app live.me raises $50m from Bytedance

In its string of pearl strategy, Bytedance has announced its investment in Cheetah Mobile’s video streaming platform live.me. It is interesting to note that Byetdance already owns Toutiao, Topbuzz, Flipagram and other video apps.

What is Live.me ?

Live.me is a place to live broadcasting video chat with over 25,000,000 people(downloads) from 85 countries. You can stream, video chat, make a vlog and get paid for doing stuff you love and join communities of people who love that same stuff super easy and fast.

This acquisition will consolidate Bytedance’s position as a video-based content service provider globally. Already a big name in China, It is now aiming to bring more video-based products in its portfolio. Bytedance earlier invested in Flipgram, which is again a video-based storytelling platform.

As per the reports, this new round of investment will help Live.me expand in the new geography and capture newer markets.

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