Internet technology provider Google has invested RMB500m ($76.8m) in China-based online game streaming platform Chushou TV, Technode reported yesterday, citing local media*.
Chushou runs a video game livestreaming platform that specialises in mobile gaming. It has more than 100,000 channel hosts according to Technode and broadcasts to a user base that reportedly exceeds 10 million.
The country’s market leader however, is Douyu TV, which closed a $227m series C round co-led by internet group Tencent in August 2016.
The latest funding comes after Chushou raised $58m in a January 2017 round co-led by venture capital firms GGV Capital and Shunwei Capital that included Qiming Venture Partners and Feidian Capital.
The company had previously received $20m from an undisclosed, publicly-listed Chinese company, according to China Money Network.
Google’s investment comes three years after its YouTube subsidiary missed the chance to acquire the US market leader in the sector, Twitch, which was instead snapped up by e-commerce firm Amazon for $970m. Twitch’s monthly active users have since grown from 55 to 100 million.
*A subsequent announcement indicated the round, which was of undisclosed size, had increased Chushou’s overall financing to $120m.