[TechWeb] May 31 news, according to foreign media reports, Alibaba said it will inject $100 million into the Indian video social platform Vmate. The move comes as Alibaba is re-attempting into the growing social video app market.
Alibaba is doubling his bets on India's booming video market in the hope of defeating competitors, Google and Disney, to gain a foothold in the Indian market.
In China, Alibaba has completely missed the market, and Vmate may help fill the gap in the Indian market. Vmate offers many features similar to the bytecode TikTok, which currently has more than 120 million active users in India.
Vmate is a video streaming and short video sharing app launched in 2016. It belongs to UC Web., a subsidiary of Alibaba and browser maker. In recent years, the company has added features such as video downloads and 3D expressions to expand its use.
The company said it has accumulated 30 million users worldwide and will use Alibaba's funds to expand its business in India. (Little Fox)