Baidu Buys JOYY's China Live-Streaming Unit for $2.1 Billion
Baidu has acquired JOYY's China live-streaming business, YY Live, for approximately $2.1 billion, reviving a deal that fell through in 2020 due to regulatory issues. The acquisition is part of Baidu's strategy to diversify its revenue and compete in the fast-growing digital video market. By acquiring this business, Baidu aims to expand its presence in AI and cloud computing.
- This deal represents a significant shift for Baidu, as it now gains access to JOYY's established live-streaming platform, potentially bolstering its position in China's rapidly evolving digital entertainment space.
- How will the integration of this new unit impact Baidu's broader strategy to leverage AI and machine learning capabilities across its various business segments?