Visual China plans to invest $100m to expand Getty Images

Chinese image licensing company Visual China Group said it plans to invest up to $100 million in Getty Images as the Shenzhen-listed firm expands its footprint in the global picture library.

The deal comes a month after Corbis Entertainment, the image licensing company owned by Microsoft Corp‘s co-founder Bill Gates, sold its picture library business to Visual China for an undisclosed sum.

That gave Visual China exclusive distribution rights to the Corbis content it bought for all regions, except China, including politically sensitive images such as the photo of a lone protester standing in front of tanks ahead of Beijing’s crackdown on democracy activists in Tiananmen Square in 1989.

Visual China‘s purchase of pictures considered sensitive by authorities in Beijing had raised question among industry experts as to whether these images may become harder to access.

With a market value of 16.4 billion yuan ($2.5 billion), Visual China has partnered with GettyImages for more than a decade to market and distribute Getty‘s content exclusively in China.

Shares of Visual China jumped by their daily 10 percent limit to 25.85 yuan in early trade after it announced its investment plan.

Getty Images, which is backed by U.S. private equity group Carlyle, has been struggling to compete against start-ups in the lower end of the market.

Also read:

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Reuters

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).   

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  • 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. 
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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.