China's live streaming giant YY fully acquires Singapore's Bigo for $1.45b

China's live streaming giant YY fully acquires Singapore's Bigo for $1.45b

Photo by Nicholas LB on Unsplash.

Nasdaq-listed Chinese live streaming major YY has paid about $1.45 billion to fully acquire Bigo Inc, the Singapore-based startup that owns global live streaming platform Bigo Live and short-form social video platform Like.

In a statement, YY said it has acquired the remaining 68.3 per cent stake in Bigo from shareholders, including YY’s chairman and acting CEO David Xueling Li. The Chinese firm owned approximately 31.7 per cent of Bigo prior to the transaction.

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