Tencent Video, the company’s video unit, had 62.6 million paying subscribers as of the end of February. Photo: AP

Tencent, Baidu invest in state media-backed Pear Video amid content crackdown

Pear Video, which counts People’s Daily publicly traded unit as an early investor, raised 617 million yuan (US$98.2 million) in its Series A funding round, led by Tencent and Baidu.

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Tencent Video, the company’s video unit, had 62.6 million paying subscribers as of the end of February. Photo: AP
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