Looking at India as huge streaming business opportunity market, Singapore-based Bigo Technology, which owns live streaming platform Bigo Live and video editing and sharing platform LIKE, has announced to invest $100 million in the country over three years.
The company plans to expand its operation and open regional centers in India. It aims to bring the total number of regional offices to 20 regional and four regional centers by the end of 2019.
Bigo’s chief technology officer Jason Hu finds Indian market has a growing talent pool and good internet infrastructure coupled second-largest smartphone market.
The investment is said to create over 1,000 jobs in the country, according to the company’s statement quoted by Business Times. Bigo Live allows users to live broadcast their talent and connect with their fans and other talented broadcasters as well as follow interesting broadcasters. It also offers users an opportunity to earn good amount of money, which makes BIGO LIVE an appealing platform for masses.
The company earns through virtual gifting, a process in which audience members can send pictographs, which can be converted into cash, to broadcasters. It also offers an opportunity to live streamers to earn rewards.
Last year, Bigo had got Series-D funding of $272 million. The company claims of having over 100 artificial intelligence experts and engineers. Founded in 2014, Bigo Live entered the Indian market in April 2017. The live streaming app claims over 60 percent market share in India (not including Facebook and Youtube). It boasts of having over 60 million user base in India and 200 million globally.
The platform also hogged the limelight for airing obscene contents. Many users of the platform complaint of multiple thumbnails featuring objectionable images of women. The company earns through virtual gifting, a process in which audience members can send pictographs, which can be converted into cash, to broadcasters. It also offers an opportunity to live streamers to earn rewards.