Summary:
- Amazon expands its video streaming portfolio in India.
- MX Player complements Amazon’s existing services: Prime Video and MiniTV.
- Acquisition valued between $50-100 million.
- Deal marks a significant drop from MX Player’s previous $500 million valuation.
Amazon has strategically bolstered its presence in the Indian streaming market by acquiring MX Player, a move set to enhance its service offerings alongside Prime Video and MiniTV. The acquisition, valued at an estimated $50-100 million (approximately ₹417 – ₹834 crores), signifies a substantial decrease from MX Player’s prior valuation of $500 million. This acquisition is poised to integrate MX Player’s assets into Amazon’s expansive ecosystem, potentially leading to a reshuffling of top executives to Amazon’s team.
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