Tencent leads $111M investment in India's video streaming service MX Player

MX Player, a popular video app that offers both local playback and streaming services, said on Wednesday that it has raised $110.8 million in a new financing round led by Chinese internet giant Tencent as the video app looks to expand its business in India and other international markets. Times Internet, which acquired a majority stake in MX Player in late 2017 for $140 million, also participated in the unnamed financing round. The post-money valuation of MX Player was over $500 million, a person familiar with the matter told TechCrunch.

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