Alibaba bets on India's burgeoning video market, pumps $100m into VMate

Chance Chan / Reuters

Chinese tech giant Alibaba Group Holding Ltd, which has been betting big on Indian payments, e-commerce, and foodtech startups so far, has found a new love in the country’s burgeoning video market.

Almost three months after leading a funding round in online video intelligence and analytics platform Vidooly, it has now pumped in $100 million into short video app VMate, which was launched in India in 2017 by its subsidiary UCWeb, according to media reports.

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