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China Daily Website

Suning, Hony to back PPTV with $420m

Updated: 2013-10-29 07:26
By Wang Zhuoqiong in Beijing and He Wei in Shanghai ( China Daily)

Tao said the investment from Suning will expand the user database from online to physical stores and enhance the company's knowledge of its customers while keeping users staying longer on its platforms.

The PPTV application held a strong position in Apple Inc's App store last year, leading the popularity stakes among video-sharing applications. Seventy-seven percent of iPhone and iPad users have installed PPTV's application on their devices.

In 2011, PPTV received funding of $250 million from Japan's SoftBank Corp to bolster its fast-expanding business.

The online viewer exhibited its ambition in cloud-enabled technologies in May, when it announced the launch of its Internet-enabled set-top box called PPBOX. The device allows Digital Living Network Alliance/Airplay interactive apps, video calling and a host of downloadable and online games.

Hong Bo, a Beijing IT expert and founder of consultancy company IT5G, took an optimistic view of the collaboration, saying that PPTV is "essentially a content-generator, rather than simply a channel".

He added: "PPTV is likely to benefit a lot from the new investment, in terms of both finance and market exposure.

"However, the online video industry will not experience a sea change after several reshuffles in the past two years," he said.

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