Pear Video Secures Funding From Tencent, Baidu
Pear Video has secured 616 million yuan ($98.1 million) in series A funding, paving the way for the short-video platform to supply content to investors including Tencent and Baidu, Caixin has learned.
The cash infusion will value Pear at around 3 billion yuan, sources familiar with the matter told Caixin on Monday.
The financing was led by social media giant Tencent Holdings Ltd., with participation from search engine leader Baidu Inc. Pear is set to offer content to these two firms, which have growing strategic investments in China’s booming online media market, as users turn to mobile devices for news and entertainment.
- 1Caixin View: China Feels Chill From Trouble in Turkey
- 285-Year-Old Petitioner, in Poor Health, Denied Parole
- 3Update: ‘First Fully Homegrown’ Browser Outed as Based on Google’s Chrome
- 4In Depth: HNA Charts New Course Back to Airline Basics
- 5Banned From Planes and Trains, Jia Yueting Hands Over U.S. Car Startup’s China Business
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas