Liquidity Events

Amazon to buy MX Player for over $100-M: reports

Inc42   Mint  

US-based e-commerce company Amazon is to acquire Times Internet-owned video streaming platform MX Player in an all-cash deal for a little over USD 100 million.Cash strapped MX Player has been in the market for nearly a year for an acquisition. Founded in 2011 as a video player by a South Korean firm, MX Player was acquired by Times Internet in 2018 for about USD 140 million. It was eventually remodelled to an ad-supported video streaming platform.In 2019, MX Player had raised USD 110 million funding from China’s Tencent at an around USD 500 million valuation.

Want to receive such news items in your inbox? Click Here to sign up for a trial.

2021 © TSJ Media Pvt Ltd. All rights reserved.