China: Cheetah Mobile’s video streaming app Live.me Inc raises $60m

Homepage of Cheetah Mobile.

Live.me, a live video streaming application, has raised $60 million from investors including Matrix Partners, Evolution Media China, Gobi Partners, IDG Capital and Welight Capital as well as Live.me’s parent company Cheetah Mobile.

Post-funding, Cheetah Mobile Inc, the Chinese mobile internet company directly holds approximately 70 per cent equity interest in Live.me and retains control over the Live.me business, the firm said in an announcement on Monday.

“Going forward, we will continue to invest in R&D and further improve our overseas operations for Live.me in order to provide the best user experience for our users worldwide, better connect users with each other and enrich people’s social lives through Live.me,” said Cheetah Mobile CEO Shen Fu.

Since its launch, Live.me has witnessed a strong growth in user number, user engagement and number of paying users, particularly in the US market, he added.

Shen noted that the video streaming app will have more resources to build Live.me into a global social community through partnering with top financial institutions.

Cheetah, a company founded in 2010 by Kingsoft Security and Keniu Yingxiang has some popular products like an antivirus application Clean Master and a battery maintenance application Battery Doctor. It even has a mobile game Piano Tiles 2.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.