MX Player to receive $125 Mn investment from PayTm, Tencent against purchase of equity. The online video streaming platform has 75 Mn daily active users. The app was relaunched as an OTT platform offering vernacular content for Indian users. Times Internet will continue to be the major stakeholder after the investment. MX Player currently functions on an ad-based model. MX Player will compete with the likes of YouTube, Hotstar, Amazon Prime & Voot.
