Deals
Google Couldn’t Help This Chinese Games Startup Beat Tencent
- Unable to pay its top performers, Chushou TV suspends service
- Smaller streaming providers no match for market giant Tencent
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Once high-flying Chinese game-streaming platform Chushou TV has shuttered, becoming the latest casualty in a market increasingly dominated by Tencent Holdings Ltd.
The mobile-focused streaming network’s demise on July 2 comes just two years after it received $120 million in investment from backers including Alphabet Inc.’s Google. The company, whose name translates as “tentacle,” has asked streamers who play exclusively on the platform to switch to Tencent-backed video-sharing app Kuaishou, according to an in-app notice viewed by Bloomberg News. Chushou and Google representatives didn’t respond to requests for comment sent via email.