Alphabet Inc.(NASDAQ: GOOGL) Google has joined an investment for Chinese online game streaming service platform Chushou, bringing the total funding up to $120 million. This marks the second investment in China.
Chushou, which translates to “Tentacle”, is a chinese game live streaming platform. The platform has 90 million registered users with 8 million streamers and 250,000 live streams running daily.
Google joins other firms, Qiming Venture, Shunwei Capital and Alpha X Capital.
Google’s investment value was not provided.
Google’s investment into Chushou comes after it abandoned its acquisition attempt for Twitch TV after Amazon.com, Inc. (NASDAQ: AMZN) had acquired Twitch for $970 million.
Since Google’s failed takeover attempt, the company tried to use its YouTube platform to launch live streams. But the live streaming business has also attracted other tech giants such as Alibaba Group Holdings Ltd. and Tencent Holdings Ltd., according to Bloomberg.
China Internet Network Information Center released a statistical report on internet development in China stating that point of view, live games, and reality TV significantly increased. As of June 2017, the number of live stream subscribers was 343 million, accounting for 45 percent of internet users.
The Chinese market alone for online streaming services is expected to generate $462 million in revenue and an additional 140 million users, according to IResearch.
“Chushou has built an impressive platform, with a dedicated and quickly growing base of content creators and consumers, and smart expansion plans,” said Frank Lin, who oversees corporate development for Google in North Asia, in the statement.
Google plans to help Chushou expand itself as a global live streaming service, but Google’s search engine service is banned in China. Google’s globally dominant search engine will provide major advertisement for Chushou to expand rapidly.