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Live.me streaming video get $60 million from Cheetah Mobile

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Tinuku ~ Liveme.com is funding US$60 million from a consortium. Streaming video hosting companies will get funding from a consortium led by Cheetah Mobile with several other supporters: Matrix, EM, Gobi Partners, IDG Capital and Weight Capital to build startups globally.

Tinuku Live.me streaming video get $60 million from Cheetah Mobile

A transaction was made on April 28 to form a consortium that holds a 70 percent stake in Live.me. Cheetah Mobile's CEO, Sheng Fu, says more resources allow Live.me to build a stronger global community.

"Live.me just celebrated its first anniversary and funding of US$60 million will be the best gift," Fu said in a statement on Thursday, May 4, 2017.

"We are delighted to be working with Matrix, EM, Gobo, IDG and Weight as partners and running a fast-growing, global streaming video business," Fu said.

Chinese mobile Internet company headquartered in Beijing and an application provider for mobile phone users with personalized content in the mobile platform. Live.me is a subsidiary based in Cayman Island.

Startup videos present features that allow users to comment, digital gifts and follow favorite broadcasters. Live.me has a pornography monitoring machine running 24 hours and has very strict policies. Currently Live.me has 20 million subscribers.

"Going forward, we will continue to invest in research and development to improve global performance in providing the best user experience worldwide, better user-to-user connections and enriching social life through Live.me," Fu said.

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