According to the source, Tencent, together with Indian media and technology company Times Internet Ltd. that founded the business, will invest a total of US$115m into the streaming service.
If the deal goes through, Alibaba, Tencent and Toutiao will be respectively backing the top 3 news aggregators in India, UC News, NewsDog and Daily Hunt.
Chinese authorities worried that a large armada of online lenders would leverage Tencent’s credit-scoring services to market suspicious financial products.