When Bigo Live was launched last year, it attracted a lot of attention, and many were skeptical over the content on this live broadcasting platform. In less than a year, it is in the news again with more investment. Of course, not many people will agree with the content, but the administrators are doing a great job blocking unwanted content. Go check it out if you have the chance as there are many talented people on it.
Live Streaming Social Platform BIGO LIVE completing Series C financing
[March 7, 2017] The global live streaming platform, BIGO LIVE announced the completion of Series C financing, with Ping An Overseas Holdings leading the investment. BIGO LIVE’s market cap value is now estimated at more than 400 million USD, with a total of 180 million USD fund raised cumulatively to date. With nearly 30 million monthly active users, BIGO LIVE is rapidly becoming the largest global live streaming social platform besides Facebook LIVE and YouTube LIVE.
As a global live streaming social platform, BIGO LIVE has led the industry with its cutting-edge video broadcasting technology. The technology enables high quality of video streaming by optimizing the image quality while reducing video-lagging, and the app also leads the industry with its beauty filter features for the users. The app has revolutionized how users interact on social media as they discover a brand new way of socializing in real time. As a result, BIGO LIVE has attracted youngsters aged 18-25 since its initial launch on March 12 2016. In less than a year, BIGO LIVE has attracted 70 million registered users worldwide, with close to 30 million monthly active users, and an average time spent of over 40 minutes daily.
Sweeping the Southeast Asia’s market, BIGO LIVE topped the Google Play and Apple Store download charts in Thailand, Vietnam, Indonesia, Singapore, Malaysia and the Philippines numerous times. Following its wave of success, BIGO LIVE will also start penetrating into other key markets such as South America, North America, Europe, Russia and the Middle East, countries where the app is already gaining good traction in the coming months.
In 2017, BIGO LIVE will focus its business effort on elevating the quality of its content and expanding into new territories. With continuous investment in elevating brand awareness, accelerating market entry, enriching its video content and aggressive integrated marketing communication,BIGO LIVE aims to become a household brand for live streaming application. To support its rapid growth, BIGO LIVE will continue to scout for great talents across nations and enable local expansions in Europe, United States, India, Russia, the Middle East and some other key countries. BIGO LIVE will also continue its heavy investment in R&D area, with the vision to provide the best live streaming experience for millions of users across the globe. This is also the key effort in maintaining its current market leading position.
BIGO LIVE’s investors include YY.COM (NASDAQ: YY) and its founder David Li, alongside to BAI (Bertelsmann Asia Investment Fund), Morningstar Capital, Gao Rong Capital and other front-line venture capital institutions. Ping An Overseas Holdings led this round of investment as part of their strategy to venture into the new media and live streaming social network business. Ouhua legal firm is the legal adviser to Ping An Overseas Holdings for this round of investment.
Ping An Overseas Holdings is the largest insurance and integrated financial group, best known for its personal financial services. It is valued over 1 trillion USD total asset.
Founded in March 2016 and headquartered in Singapore, BIGO LIVE is a social-video platform that provides live streaming facilities for the users. With more than 70 million registered users worldwide, BIGO LIVE is committed to build a leading global social community via live Streaming.