Tencent leads $111 mn funding in MX Player at $500 mn valuation

Video streaming and playback services platform MX Player on Wednesday said it has raised $110.8 million in a new funding round led by Chinese internet giant Tencent. Times Internet (TIL), which acquired a majority stake in MX Player in late 2017 for $140 million, also participated in the funding. The post-money valuation of MX Player was $500 million, TechCrunch reported.