Amazon India announced that it had acquired MX Player and it is rebranding its ad-supported free service Amazon miniTV as Amazon MX Player.
The company took the social media to announce the merger.
The MX player which was founded in 2011 by a South Korean firm was acquired by Times Internet in 2018, a subsidiary of Times of India group. The merger deal of MX with Amazon concluded in June this year valuing MX Player at $50-100 million, media reported.
Despite of having 150 Million active users in India, MX Player incurred a net loss of $100 Mn on a revenue of $36.8 Mn in FY22, as per the report published by Inc42.
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