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Aya Lin · · 1 min readIn brief: Tencent, Paytm mull $100m investment in Indian video startup, says source
- China’s Tencent Holdings and India’s Paytm are looking to invest about US$100 million in Indian streaming service MX Player, Bloomberg reported, citing a person familiar with the matter.
- Talks between Tencent and Paytm are currently in the final stages, but specific terms may still change, according to the person.
- If the deal materializes, Tencent will get a foothold in India, where the content-streaming market is expected to grow at a compound annual growth rate of 22% to US$1.7 billion by 2023, according to PricewaterhouseCoopers.
Editing by Charmaine de Lazo
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