Internet

MX Player is changing tack with Tencent money

Harveen Ahluwalia

Mumbai

30 October 2019

You can always update your display preferences in Settings menu

Early this year, video streaming platform MX Player moved out of the Times Internet office in South Mumbai, and shifted its base about 20 km away. The parting of offices was a message. MX Media Co. Ltd—which started out as a Korean video player app, before being sold to Chinese gaming company Zenjoy in 2016 and then being acquired by Times in June last year—will not be a subsidiary of Times Internet for long, but an independent entity.

Today, MX Media announced it has closed a $110 million Series A funding round from Chinese internet giant Tencent and Times Internet itself, part of the Times Group, one of India’s largest media conglomerates. But more importantly, while Times will continue to be the largest shareholder in the company, it no longer holds a majority stake; its shareholding comes down to 49% from 58.9% earlier, according to a person aware of the transaction. Times Internet did not disclose the size of its stake.

“The company has undergone some

Everything you need to know. Only with TMC.

The Morning Context’s mission is to build an independent, credible media company, which tells stories that matter. On the internet, business and chaos.

We ensure that our stories has an original point of view, covers new ground in critical analysis of the business, is an investigation into why something happened and makes sense of the complex world around us. Check out what else we have to offer.

Why choose

TMC?

Information and analysis you won’t find anywhere else

Read in-depth explainers, stories of startup battles and honest, genuine interviews.

Independent and unbiased journalism

We’re not afraid to write hard-hitting stories—we serve you, the reader.

Premium newsletters

Get insights from some of the best writers in India right in your inbox.

TMC Dialogues

Be a part of our exclusive subscriber community and discussions.

Get all the news from our categories

Reader’s quotes

What our reader’s love about TMC.

Research ideas don't come from a vacuum. The best ideas come from a spark, a contrarian take, an uncommon investigative insight, and one doesn't always get these from traditional media. TMC consistently makes me think about things in different ways, and I've frequently shared TMC articles with collaborators and students. Staying at the cutting edge is hard enough; TMC makes it much easier.

Rohit Chandra, Assistant Professor - School of Public Policy (IIT Delhi)

High quality, independent journalism is rare to find. The Morning Context set really high standards that make me wait for each story.

Abhay Pandey, Managing partner, A91 Capital

Well-written and researched long form reads on a wide variety of topics and a team of veteran journalists - all of this makes my subscription worth it.

Anupam Gupta, Investment research consultant

In today's very noisy and cluttered world, I like that the Morning Context goes below the surface of company PR to deliver fact-based stories on Indian business.

Jessie Paul, CEO, Paul Writer

The Morning Context is my daily opportunity to get smarter about one new company/sector. Discerning analysis, unbiased and approachable.

Miten Sampat, Angel investor & former CSO, Times Internet

In today's polarized world, authentic and unbiased facts are in short supply world over. The Morning Context is a refreshing approach towards truthful, well researched, fearless, and high-quality articles on contemporary topics.

N S Parthasarthy, Co-founder, Mindtree

In a world full of noise, The Morning Context is the calm that stimulates and energises your mind, with stories focused on fact, truth and dogged reportage.

Nikhil Taneja, Co-founder and CEO, Yuvaa

Although it’s a paid subscription, the kind of detailed research and quality of reportage makes it worth every rupee. It’s strength surely lies in having some of the finest journalists writing for it.

Shiladitya Bora, Producer, distributor and founder at Platoon One Films

As one of the early subscribers, I've had the opportunity to witness how quickly the team has grown, the variety of angles covered, and the research in every in-depth story and op-ed.

Amarjit Batra, Managing director, Spotify India