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Alibaba’s DingTalk acquires streaming tech start-up Pano to seize bigger share of China’s videoconferencing services market
- The acquisition of Pano is expected to further enhance DingTalk’s audio and video communications offerings, as it competes against platforms like Zoom
- China’s videoconferencing services market is projected to be worth more than US$1.6 billion in 2024
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DingTalk, the workplace app developed by Alibaba Group Holding, has acquired streaming technology start-up Pano for an undisclosed amount, enabling the platform to have a stronger foothold in the country’s office communications and work-related social media market segments.
With the acquisition of Pano, which is based in Alibaba’s home city of Hangzhou in eastern Zhejiang province, DingTalk is expected to further enhance its audio and video communications offerings, a spokeswoman for DingTalk confirmed on Friday. Alibaba is the parent of the South China Morning Post.
Founded in August 2019, Pano enables enterprises and developers to achieve high-definition, stable and easy-to-use streaming services, covering various vertical industries. The start-up’s real-time transmission acceleration network already covers more than 200 countries and regions, according to the firm’s website.
“We look forward to building a more open platform to provide more competitive products and technologies for hardware and software partners,” DingTalk’s spokeswoman said.
Following the acquisition, Pano founder and chief executive Zhao Jiayu will continue to lead the enterprise’s operations under DingTalk, according to Chinese media 36Kr.
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