Chinese live streaming app raises $60M to challenge Facebook, Periscope

Live streaming ladies doing their thing. Photo credit: Eva Xiao.

Chinese live streaming company is gearing up to take on competitors in the West.

The startup – 70 percent owned by Chinese mobile app company Cheetah Mobile – announced a US$60 million series A from Matrix Partners China, IDG Capital, Gobi Partners, Cheetah Mobile, and others on Monday. The live streaming service will use the new funds for research and development, as well as improving its overseas operations....

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