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Aya Lin · · 1 min readIn brief: Alibaba invests $100m in its social video app to gain foothold in India
- Alibaba is doubling down on India’s growing video market by plowing US$100 million into Vmate, a three-year-old social video app owned by its UC Web subsidiary, TechCrunch reports.
- The Chinese tech giant is looking to compete against local rival Bytedance as well as Google and Disney to gain traction in the country. Vmate, which says it has 30 million users worldwide, offers features similar to Bytedance’s TikTok, which has over 120 million active users in India.
- The move comes as Alibaba renews its efforts in the social video apps segment – something that it completely missed out on in China. Vmate could potentially help it fill the gap in India.
Editing by Eileen C. Ang
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