Alibaba invests $100 million in video sharing app VMate

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

Alibaba, a Chinese multinational conglomerate has reportedly infused around Rs 700 crore ($100 million) in a short-video sharing app VMate, reports Inc24. The funding has been done in an attempt to increase Alibaba’s foothold in the Indian market.

The video sharing app will use the funding to scale its business in India. VMate was launched by UC Web in India in 2016, the subsidiary of the Chinese tech giant.

VMate initially offered full-length movies to users but later shifted to user-generated short videos.

“Short videos will be one of the company’s top priorities this year,” UC Web said.

VMate offers several video making and editing tools like stickers, special effects, custom clips, and duet video format among others along with the ability to share videos to other platforms like Facebook, WhatsApp, Snapchat and TikTok among others.

The app claims to currently have 30 million users in India.

While, Alibaba Group is based out of China which was founded in 1999 by 18 people led by Jack Ma. Its businesses are comprised of core commerce, cloud computing, digital media and entertainment, and innovation initiatives.

Simultaneously, TikTok, the music video making and sharing app, owned by Bytedance, claims to have over 120 million users in India, and seems to be a major contender for VMate in India.

In March 2019, the company had said that short videos accounted for over 40% of overall content consumption on the platform, with more than 1 lakh short-videos being uploaded every day on its platform, while daily video consumption had increased three-fold on VMate.

Besides TikTok, other players in this segment include Like, Roposo, Kwai and Vigo Video.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Food aggregator unicorn Zomato will reach profitability by 2020, says co-founder Deepinder Goyal

Deepinder Goyal, co-founder and CEO at Zomato, a food aggregator and tech-food unicorn, has announced that the platform will...

Mutual funds investment marketplace Nivesh raises $600,000 from The Next Billion Fund, other marquee investors

Nivesh.com, mutual funds investment marketplace, has bagged $600,000 (approx INR 4 crore) from Windrose Capital's The Next Billion Fund, other marquee investors, reported Yourstory. The...

Delhi Fire Tragedy: Owner of the building arrested

Rehan, the owner of the building where a fire broke out in Delhi earlier today, has been arrested by Delhi Police. A case has...

Amit Shah to table Citizenship bill in Lok Sabha tomorrow

Union Home Minister Amit Shah will table the Citizenship (Amendment) Bill in the Lok Sabha on Monday. The bill seeks to grant Indian citizenship...

Delhi fire tragedy: How it all started

More than 140 illegal factories were operational in the narrow lane of Anaj Mandi of Karta Gauri Shankar. The fire started from the 600sq...
- Advertisement -

More Articles Like This