<article>NASDAQ-listedd <a href="https://www.dealstreetasia.com/?s=yy+inc">YY Inc</a> on Tuesday announced that it has invested $272 million in the Series D preferred shares of Bigo Inc as its lead investor.</article>

NASDAQ-listedd <a href="https://www.dealstreetasia.com/?s=yy+inc">YY Inc</a> on Tuesday announced that it has invested $272 million in the Series D preferred shares of Bigo Inc as its lead investor.
Other investors that participated in the round include YY chairman and acting CEO, David Xueling Li, who invested in Bigo using his personal funds.
Headquartered in Singapore, <a href="https://www.dealstreetasia.com/?s=bigo">Bigo</a> is a social media platform that owns live streaming platform Bigo Live and video editing and sharing platform Like. It currently has a presence in Southeast Asia, South Asia and the Middle East, and plans to further expand globally.
Following the financing, Guangzhou-based YY, which is already an existing Bigo shareholder, emerges as the Singapore-based firm&#8217;s largest shareholder.
&#8220;In addition, YY has obtained a right, exercisable after the first anniversary of the closing date, to purchase additional Bigo shares at the then fair market price to exceed 50.1 per cent of the voting power in Bigo,&#8221; said the announcement.
Bigo Live had raised an <a href="https://www.dealstreetasia.com/stories/bigo-live-closes-series-c-led-by-ping-an-unit-66754/">undisclosed Series C round</a> in March 2017, led by Ping An Overseas holdings and joined by YY. At that time, Bigo Live&#8217;s valuation was more than $400 million.
<a href="https://www.dealstreetasia.com/stories/huya-us-ipo-97223/">Last month</a>, YY listed its e-sports video platform Huya Broadcasting in the U.S., less than a month after Huya raised $461.6 million in its Series B round led by Tencent.
Also read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/chinas-yy-inc-live-game-streaming-unit-huya-files-for-us-ipo-93787/">China’s YY Inc live game streaming unit Huya files for US IPO</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/bigo-live-closes-series-c-led-by-ping-an-unit-66754/">SG: Bigo Live raises Series C at over $400m valuation, Ping An unit leads round</a>

Other investors that participated in the round include YY chairman and acting CEO, David Xueling Li, who invested in Bigo using his personal funds.

China's live streaming major YY leads $272m funding round for Singapore's Bigo

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

China's live streaming major YY leads $272m funding round for Singapore's Bigo

Continue reading this premium story with a subscription to DealStreetAsia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief