Chinese media groups and technology are more and more supporting content and news apps processing in India as they seek to duplicate their achievement back home. Most of these companies, which aim for vernacular and nonmetro speaking users, are tapping into the increasing base of a handset-employing population outside big metros.
A Hong Kong-based news-aggregating application, NewsDog, has held discussions with China’s Tencent to lift finance. One of the top news application on the Google Play Store in India, News-Dog (just similar to UCWeb, which is supported by Tencent’s competitor Alibaba) aggregates other types of content including news. UCWeb is a browsing website that provides a series of entertainment and news content.
One of the oldest companies in the segment, Bengaluru-located DailyHunt, as well, pumped in $25 Million in funding from ByteDance in 2016. ByteDance, capitalized at $20 Billion, operates Toutiao (the popular news reader application), which has over 120 Million daily consumers investing 74 Minutes each day on the website, as per global reports.
A venture entrepreneur who has spending in content and media claimed that online content companies have posted huge development in China. “With companies such as Kuai Shou, Toutiao, and others, most Chinese companies are seeking to duplicate their achievement here in India and need a play here as well.”
But Chinese funds in news websites is a hot-button topic. The media last year reported that the Government of Indian was thinking of prohibiting UCWeb of Alibaba here since it got complaints of information theft by the website. UCWeb has almost 130 Million active users each month in India, as per newest figures by the firm.
Partner for media & entertainment at EY India, Rakesh Jariwala, claimed, “From a spending point of view, this is just smart Chinese financial supporting interesting chances in this segment internationally including in India.”