Chinese tech giant Baidu will invest $70.3 million into the live-streaming sector, the company said, as it looks to take on rivals Douyin, China’s version of Tiktok, and Kuaishou in that space. The…
The news comes as these three players jostle for dominance amidst a series of tit-for-tat lawsuits.
It will add Haokan content to its own search engine results, and meanwhile, plans to integrate it with the short video platform run by iQiyi, a major Baidu-backed Chinese streaming platform. “Previously, consumers used live-streaming mainly to watch others play games and perform shows, but since this year, we’ve increasingly seen people use live-streaming for a lot of other purposes such as learning,” he said in an online company conference last week. The sector has seen a big boost because of the novel coronavirus, which has kept much of the country locked up indoors since late January, shifting entertainment options increasingly online.
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