Amazon acquires streaming platform MX Player
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Amazon has agreed to acquire the streaming platform MX Player, marking a strategic move to expand its portfolio in India’s rapidly growing market for video streaming services.
The acquisition is seen as Amazon’s broader strategy to enhance its content offerings and strengthen its position in the region.
The deal, which concluded on Wednesday, values MX Player at an estimated $50-100 million, according to sources familiar with the matter. As part of the transaction, Karan Bedi, CEO of MX Player, is likely to join Amazon, insiders revealed.
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MX Player will add to Amazon’s existing video services like Prime Video and MiniTV.
Amazon has been looking to expand its user base in India, drawing customers in non-metro markets.