It is reported that Baidu is nearing completion of a deal worth $3 to $4 billion to acquire Joyy’s China operations, marching into the livestreaming market. Joyy is a video-streaming social platform based in China with 457.1 million monthly active oversea users, which account for 91% of its user base. The merger and acquisition will prepare Baidu to diversify its revenue streams when facing the turf battle pressure from rivals like Bytedance, and enable Joyy to narrow its focus on international business.
