Singapore-based mobile internet company BIGO Technology is investing $100 million in India as the first step of its global expansion plan before the end of 2019, according to an official release.
BIGO 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.
The company is looking to expand its presence in three more regions including India.
“We have set our sights on expanding into India as the first of three regions. India will be complementary to Singapore’s Research and Development Centre,” Jason Hu, CTO for BIGO Technology.
The expansion will create opportunities for cross-country learning for both Singapore and India. With the India expansion, BIGO will have a total of 20 regional offices and four regional centres by the end of 2019.
Last year, BIGO Live, a streaming platform, raised $272 million in the Series D from NASDAQ-listed YY Inc. The firm had earlier raised an undisclosed Series C round in March 2017, led by Ping An Overseas holdings and joined by YY. At that time, BIGO Live’s valuation was more than $400 million.