Mobile live video-streaming platform Chushou TV receives USD 120M for Series D led by Google
Founded in: 2015
Financing status: RMB 778 million (USD 120 million) for Series-D financing in 2017
Mobile live video-streaming platform Chushou TV received USD 120 million for Series D led by Google on January 5, in preparation for IPO.
Chushou TV is a mobile live video-streaming platform that specializes in mobile games. Chushou TV enables users to live stream content on their smartphones anywhere and anytime and to share gaming experiences with other users. In addition, users can interact with presenters through video barrages, virtual gifts, and so on. Currently, most streamable content is mainly from several mobile games, including Tencent’s Arena of Valor, NetEase’s Minecraft, among others. With millions of users in China, these games are indeed a popular form of mobile entertainment.
Founded in 2015 in Hangzhou, Chushou TV claims that it has attracted in total more than 10 million registered, smartphone-using users. More than 100,000 are content presenters who live stream to audiences on Chushou TV’s platform.
Previously, the company raised USD 20 million from an unnamed Chinese A-share listed company as well as USD 50 million from GGV, Shunwei Capital, Qiming Capital, etc.. This latest Series-E financing round was led by Google. Earlier this month, Fei-Fei Li, Chief Scientist of AI/ML of Google Cloud, announced the launch Google AI Chinese Center during a Google Developer Days of China event. Thus, Google’s investment in Chushou TV is regarded as a step back into the Chinese market.
Chushou TV intends to allocate the newly raised capital towards expansion of its user network, as well as to prepare for IPO.
(Top photo from 699pic.com)