UCWeb to invest R200 cr in India, Indonesia over 2 yrs

UCWeb, part of Alibaba Mobile Business Group, plans to invest R200 crore over the next two years in India and Indonesia. The funds will primarily be used to make use of user-generated content in India via its news distribution and content platform, UC News.

Jack Huang, president of overseas business, Alibaba Mobile Business Group said, “India is the most critical overseas market for UCWeb and this investment will help bring in the global mobile internet to an era of ‘GUF’ (Google, UCWeb, and Facebook).” UC News, a product of UCWeb Inc is a content distributor of trending and curated news content covering all kinds categories including news, cricket, technology, entertainment, movies, lifestyle, health, humor, etc.

UCWeb plans to add more than 30,000 self-publishers, bloggers and key opinion leaders to its platform in 2017.