Baidu to buy live-streaming platform Joyy

Nov 18, 2020Updated Nov 17, 20201 min read

Baidu, China Internet search and AI giant, has agreed to pay $3.6 billion in cash for the Chinese live-streaming business of JOYY. The deal may help Baidu catch up in the fast-growing live and short video sectors, where it trails TikTok-owner Bytedance and social media leader Tencent.

Driven by changes in consumer behavior that were accelerated by the coronavirus pandemic, Baidu earlier this year confirmed plans to grow its existing short content streaming activities based around the app called Haokan. Baidu is also the majority owner of perennially loss-making generalist streaming platform iQIYI.

The oft-rumored acquisition of JOYY’s china businesses takes Baidu significantly further in the direction of short-form and may provide benefits to the YY Live business it is buying.

“This transaction will catapult Baidu into a leading platform for live streaming and diversify our revenue source,” said Robin Li, co-founder and CEO of Baidu in a filing.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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