Google has invested $77 million (RMB 500 million) into the Chinese game stream-ing platform Chushou TV. Insiders see the move as another calculated step in Googles comeback to the Chinese market it gave up on seven years ago.
Chushou is a Chinese social networking platform with 2.7 million live video stream-ing hosts on its platform with daily active hosts averaging 150,000. This is the first major investment made by Google in live broadcasting for video games since it lost the bid on Twitch to Amazon three years ago.
Mobile gaming is one of the fastest growing areas in China and over the past two years, explosive gaming tournaments such as “The King’s Glory,” “Crossing the Fire,” and “Big Ball” have emerged in the Chinese market, giving birth to mobile gaming platforms, events and clubs, content and collaboration tools “Chushou TV has built an impressive platform, with a dedicated and quickly grow-ing base of content creators and consumers, and smart expansion plans,” said Frank Lin, Google’s head of corporate development in North Asia, in a statement.
“We’re excited to be supporting Chushou through this investment to help them execute those plans, bringing great mobile gaming content to more people around the world.”
Chushou TV is the leader in this space that captured the wave of mobile gaming growth. Chushou TV was launched in July 2015. The startup specializes in live streaming for mobile games.
So far it has attracted over 100,000 streaming hosts and over 10 million audiences, according to a report by local media. In January, the com-pany completed its series C round of $38 million (RMB 400 million) from AlphaX Partners, GGV Capital, Shunwei Capital, Qiming Venture Partners.