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Aya Lin · · 1 min readIn brief: Chinese livestreaming platform Inke acquires social app Jimu for $85m
- Chinese livestreaming platform Inke said it acquired interest-based social app Jimu for US$85 million, Technode reported.
- The acquisition will help Inke enter the stranger-socializing market and expand into new revenue streams.
- Jimu’s original team will continue to run the platform after the acquisition.
- Analysts expect the industry to further consolidate in 2019, as the Chinese livestreaming market has been losing out to short videos in capturing user time spent since 2018.
Editing by Charmaine de Lazo
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