Chinese tech giant Baidu to invest $70.3 million into the live-streaming sector
Chinese tech giant Baidu is going to invest $70.3 million into the live-streaming sector in a bid to take on rivals Douyin, China’s version of Tiktok, and Kuaishou in that space. The move comes in the wake of the three players jostle for dominance amidst a series of tit-for-tat lawsuits, and as Baidu on Monday announced better-than-expected revenue for the March quarter, causing its U.S.-listed shares to rise 8% in extended trading.Baidu’s new investment will be spent on growing its live-streaming user base and attracting high quality content creators, according to Baidu’s vice president Shen Dou. Baidu, best known for operating a Google-like search engine, plans to boost its short video operations by sending traffic from the rest of its ecosystem to creators’ content.Haokan content will b...
