Indian OTT Startup MX Player Reportedly Raising $100 Mn From Tencent, PayTM

MX player is the OTT startup that recently raised US$ 100 Million from the china base Tencent Holdings and Paytm.  The paytm and WeChat operator are India’s most tremendous payment leader in the final stage of discussion at the specific terms which may change.

In the last year, the MX player was bought for the 1000 crore by the times’ internet which is India’s largest media conglomerate. India has one of the largest smartphone markets, and after the reliance, Jio users all across the country are avidly consuming the content with the help of cheap data plans.

For the past and its parent one97 communications, it has more than 30 million users, which adds a plethora of the offering from the food delivery and e-commerce financial services.

In the last year of January, Alibaba was planning to launch the OTT video services which were powered by the PayTm and USWeb which the subsidiary of the Alibaba Group. However, the idea of the Alibaba never saw the daylight and said that the OTT services might use the technology from the Alibaba’s native OTT app in China.

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