Singapore-based livestreaming company Bigo has raised $272mn in its series D funding round. The round was led by YY, China’s largest vide-streaming app my revenue.
The company, which launched its Bigo Live app in 2016, began in Southeast Asia but now has 20 offices across the world and is popular in countries like Saudi Arabia, Pakistan and New Zealand.
YY’s founder and CEO David Li is also said to have invested privately in Bigo. Following the funding round, YY, which made $1.6bn revenue last year, is now the largest shareholder in Bigo. It already held a 27.8% stake in the company since investing in 2014.
According to Tech in Asia, Bigo has launched a research centre for the technology in Singapore which it hopes to staff with 100 AI experts and engineers.
According to Deal Street, Bigo Live held its series C round in March 2017 and saw investment from Ping An Overseas holdings as well as YY. This round left the company valued at $400mn.