MX Player raises $110 million from Tencent and Times Internet

31 Oct,2019

By A Correspondent

 

MX Player has received $110 million in fresh funding from Tencent and Times Internet. The deal marks Tencent’s second investment into a Times Internet asset, after it invested in sibling Gaana, the music streaming platform, in 2018.

 

Speaking on the investment, Karan Bedi, CEO MX Player, said: “We’re happy to welcome our new partners, whose investment is a glowing endorsement of our stellar growth and huge future potential. Our vision is to be one of the world’s largest entertainment platforms, serving our users across their online entertainment needs, starting with streaming video and beyond.”

 

Added Satyan Gajwani, Vice Chairman, Times Internet: “MX Player was our most ambitious investment last year, and it has the potential to change mobile entertainment in India and in the world. It plays an important part of Times Internet’s strategy of being the largest consumer platform in India, and we’re excited to have Tencent help us in this mission.”

 

 

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