Live.me Live-Streaming Startup Raises $60 Million to Take on YouTube, Facebook, Musical.ly

Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile.

Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it will use the funding to invest in Live.me’s R&D and further improve its overseas operations.

The startup, based in the Cayman Islands, provides video-broadcasting video features with sticker overlays. Users can purchase digital “gifts” like emoji for their favorite live creators. According to Live.me, digital influencers using its platform include Roman Atwood, a popular YouTube prankster and vlogger.

With the funding round, Cheetah Mobile holds about 70% equity interest in Live.me, down from 90% previously, and retains control over the business. Other investors participating included Matrix Partners China, Evolution Media China, Gobi Partners, IDG Capital and Welight Capital.

“Since its launch, Live.me has demonstrated a track record of strong growth in user number, user engagement and number of paying users, particularly in the U.S. market,” Cheetah Mobile CEO Sheng Fu said in announcing the funding. “We will have more resources to build Live.me into a global social community through partnering with top financial institutions.”

Beijing-based Cheetah Mobile develops mobile app utilities, including for security and battery management. The company says it had 623 million mobile monthly active users worldwide as of December 2016, 81% located outside China.

More Digital

  • Lyor Cohen

    South By Southwest: YouTube's Lyor Cohen Set to Keynote

    Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile. Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it […]

  • I Love You, Daddy

    Louis C.K.'s 'I Love You, Daddy' Leaks Online After Being Pulled From Theatrical Release

    Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile. Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it […]

  • Ajit Pai net neutrality

    Hundreds of Musicians -- From R.E.M. to Turnip King -- Sign Statement Defending Net Neutrality

    Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile. Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it […]

  • Apple - Philip Matthys and Jennifer

    Apple Raids Hulu, Legendary to Fill Business Affairs Posts on Content Team (EXCLUSIVE)

    Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile. Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it […]

  • AR Studio Open Beta_Partner Effects

    'Star Wars' Stickers and World Filters: Facebook and Google Are Trying to Catch Up on AR

    Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile. Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it […]

  • JUMANJI- WELCOME TO THE JUNGLE

    ‘Jumanji: Welcome to the Jungle’ Tops Studios’ TV Ad Spending

    Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile. Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it […]

  • CW - EA MADDEN NFL 18

    CW, EA Team on 'Madden NFL 18' eSports 'Survivor'-Style Special for TV

    Live.me, a one-year-old startup that makes a live-streaming video app, has banked $60 million from investors including its majority owner, Chinese app developer Cheetah Mobile. Live.me is in the race for leadership in the live-streaming app space, competing with the likes of YouTube, Facebook Live, Twitter’s Periscope, Musical.ly’s Live.ly, and YouNow. Cheetah Mobile said it […]

More From Our Brands

Access exclusive content