Google has invested $120 million (roughly Rs. 760 crores) in Chinese live-stream e-sport platform Chushou. Google has its eyes on China where its search engine is blocked.
Founded in 2015, Chushou is an online platform where users can live stream their mobile games. It has roughly 8 million streamers and around 250,000 live streams per day.
Google is now set to help the Chinese firm expand its services so as to target more overseas viewers.
In China, live stream gaming platforms are quite popular and form a part of a growing industry that involves competitive game play. Google’s YouTube in 2015 launched a special service for live stream gaming, thereby capturing a huge chunk of the global market.
Neither the size of Google’s stake nor the valuation of Chushou was revealed.
This is Google’s second-ever investment in a Chinese startup, as Google now looks for new opportunities into the Chinese market where censorship authorities have blocked its search engine since 2012.
In 2015, Google took a minority stake in the artificial intelligence startup Mobvoi as a part of a $75 million (roughly Rs. 475) fund-raising event.
Google’s search engine has expanded to become the world’s largest and most unique, yet it is unable to tap China’s large population of young, tech-savvy internet users.
Even China is not left untouched by Google. Google, last year targeted China to expand its AI offerings. In December, an artificial intelligence lab was launched in China, and in May, a Go match between its AI project Alpha Go and Chinese Go champion KeJie was held.
Google Chief Executive Sundar Pichai also spoke at a grand event in China, which oversees internet censorship in the country.
Google said that in the latest round, it plans on joining the existing investors Qiming Venture, Shunwei Capital and Alpha X Capital.