MX Player likely to enter unicorn club with fresh $100mn+ funding: Report

The report says that the company is in talks with existing and new investors to raise $100-$150 million in new round

e4m by exchange4media Staff
Updated: Mar 4, 2021 12:19 PM
mx player

Times Network-owned MX Player will most likely enter the unicorn club after it entered talks with its investors to receive a fresh round of funding of $100 million, according to a news report. The video platform that owns MX TakaTak is reportedly in talks with all its investors to raise $150 million in a new round, according to the news report.

Tencent, who is an existing investor, will reportedly join the new round of funding with an American late-stage investor, said one of the sources to the publication. The fresh round of funding may range anywhere between $100 million and $150 million, executed at over $900 million valuation. The company may thus become a unicorn.

The report says that MX Player has been positioning MX TakaTak as an anchor for the new fundraising. The fresh round of proceeds will help MX TakaTaka maintain its top position in the short-video app space.

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