Internet company Cheetah Mobile is part of a consortium that committed $60m in funding to its video streaming spinout, Live.me.
Cayman Islands-registered video streaming platform Live.me raised $60m in funding on Friday from investors including its parent, China-based internet company Cheetah Mobile.
Evolution Media China, the Asia-focused investment arm of corporate-backed joint venture Evolution Media Partners, and venture capital firms Matrix Partners China, Gobi Partners, Welight Capital and IDG Capital also contributed.
Cheetah Mobile held a 90% stake in Live.me before the deal, which has now been reduced to 70% of the spinout’s share total.
Founded in 2016, Live.me has…
