China Tech Newsletter – Mar. 15, 2016

Tencent has led a US$100 million Series B round of financing in, one of the leading live video streaming platforms. Other investors include Nanshan Capital and existing investor Sequoia Capital. Tencent contributed about RMB400 million (US$61M) this round. (via Tencent Tech)

Tencent also has a reported 20% stake in, another major player in live video streaming.

Social app Momo recorded 113% year-over-year growth in revenue in the fourth quarter of 2015. 37% of the total was generated from membership subscription, 39% from mobile advertising and 20% from gaming.

Monthly active users in December 2015 increased by less than 1% from a year earlier.

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