BIDU
Baidu nears deal for JOYY's Chinese operations - report
- Baidu (NASDAQ:BIDU) is nearing a deal to acquire JOYY's (NASDAQ:YY)
operations in China, according to business news outlet Jiemian.
- That deal does not include JOYY's overseas business, which would
continue to operate independently, according to the report.
- The revenue of JOYY's Bigo overseas broadcast business has exceeded
the domestic business, which could point to a ceiling for Chinese
operations, Jiemian notes.
- Meanwhile, acquiring JOYY's domestic business could provide for quick
improvement in Baidu's live broadcast operations.
- In JOYY's last earnings, it reported that Bigo segment revenue was up
nearly 150% year-over-year, to 3.06B yuan.
- A series of online charity events on Bigo Live enhanced its brand
recognition, JOYY CEO David Xueling Li says. "As a result, during the
quarter, Bigo Live's mobile MAUs and paying users achieved very
impressive
growth, and live streaming revenues of Bigo segment contributed more than
half of our total live streaming revenues for the first time ever."
|Yesterday, 11:14 PM|1 Comment
Baidu nears deal for JOYY's Chinese operations - report
- Baidu (NASDAQ:BIDU) is nearing a deal to acquire JOYY's (NASDAQ:YY)
operations in China, according to business news outlet Jiemian.
- That deal does not include JOYY's overseas business, which would
continue to operate independently, according to the report.
- The revenue of JOYY's Bigo overseas broadcast business has exceeded
the domestic business, which could point to a ceiling for Chinese
operations, Jiemian notes.
- Meanwhile, acquiring JOYY's domestic business could provide for quick
improvement in Baidu's live broadcast operations.
- In JOYY's last earnings, it reported that Bigo segment revenue was up
nearly 150% year-over-year, to 3.06B yuan.
- A series of online charity events on Bigo Live enhanced its brand
recognition, JOYY CEO David Xueling Li says. "As a result, during the
quarter, Bigo Live's mobile MAUs and paying users achieved very
impressive
growth, and live streaming revenues of Bigo segment contributed more than
half of our total live streaming revenues for the first time ever."
|Yesterday, 11:14 PM|1 Comment
Comments
Post a Comment