YY Announces Strategic Investment in Bigo Inc.

YY Inc.(NASDAQ:YY) (“YY” or the “Company”), a leading live streaming social media platform in China, today announced that it has further invested US$272 million in the series D preferred shares of Bigo Inc. (“Bigo”) as the lead investor. YY is an existing shareholder of Bigo and has become its largest shareholder after the series D financing.  In addition, YY has obtained a right, exercisable after the first anniversary of the closing date, to purchase additional Bigo shares at the then fair market price to exceed 50.1% of the voting power in Bigo. Together with YY, other investors also participated in the series D financing, including Mr. David Xueling Li, Chairman and acting CEO of YY, who invested in Bigo using his personal funds.

Bigo is a fast-growing global video-based social media platform. Headquartered in Singapore, Bigo owns Bigo Live, a leading global live streaming platform excluding China, and Like, a short form video editing and sharing platform. Bigo has created a video-based online community for global young generation users. It has established footprints with a strong presence in emerging markets such as South-Eastern Asia, Southern Asia and the Middle East, paving the way for further global expansion.

About YY Inc.
YY Inc. (“YY” or the “Company”) is a leading live streaming social media platform in China. The Company’s highly engaged users contribute to a vibrant social community by creating, sharing and enjoying a vast range of entertainment content and activities. YY enables users to interact with each other in real-time through online live media and offers users a uniquely engaging and immersive entertainment experience. YY Inc. was listed on the NASDAQ in November 2012.

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