Friday, November 10, 2017

Live.me Raises $50M In Series B From Bytedance

In the second big piece of news in Los Angeles from Chinese company Bytedance, Bytedance said on Friday that it will invest $50M in a Series B funding in Los Angeles-based Live.me, a developer of an online livestreaming service. Live.me is a subsidiary of Chinese company Cheetah Mobile. The news comes shortly after Bytedance (Beijing Bytedance Technology Co Ltd) also announced it had acquired another Los Angeles, social app developer, Musical.ly, in a deal reported to be worth as much as $1 billion. Bytedance also bought LA's Flipagram earlier this year. Live.me's site appears to focus a lot on "cam girls" interacting with viewers for "virtual tips".