Baidu Buys Joyy's China Live-Streaming Unit for $2.1 Billion in Digital Video Push
Baidu has acquired JOYY's China live-streaming business, known as YY Live, for approximately $2.1 billion, ending a deal that had stalled four years ago. The acquisition marks Baidu's renewed focus on the rapidly growing digital video market, where it aims to compete with rivals such as Douyin and TikTok-parent ByteDance. By diversifying its revenue streams, Baidu seeks to strengthen its position in the industry.
- This acquisition represents a significant strategic shift for Baidu, which now faces intense competition from established players and startups in the digital video space.
- How will Baidu's expanded presence in AI and cloud computing support its long-term growth prospects in this increasingly competitive landscape?