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SINGAPORE, Feb. 25, 2025 — JOYY Inc. (NASDAQ: YY) announced today the completion of agreements with Baidu, Inc. (NASDAQ: BIDU) for the sale of its mainland China-based video entertainment live streaming business, YY Live, for roughly $2.1 billion in cash. JOYY had previously received about $1.86 billion in February 2021, and has now received an additional $240 million.
About JOYY Inc.
JOYY is a leading global tech company dedicated to improving lives through technology. The company currently manages several social platforms, including Bigo Live for live streaming, Likee for short videos, Hago for multiplayer social networking, and an instant messaging app, among others. JOYY has cultivated an active and dynamic community for users worldwide. JOYY’s ADSs have been listed on the NASDAQ since November 2012.
Safe Harbor Statement
This release includes forward-looking statements made under the U.S. Private Securities Litigation Reform Act of 1995’s safe harbor provisions. These statements are identifiable by terms like “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. JOYY may also issue forward-looking statements in SEC filings, annual reports, press releases, and other written materials, as well as in oral statements to third parties by its officers, directors, or employees. Forward-looking statements, which are not historical facts, include statements regarding JOYY’s beliefs and expectations and involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those in any forward-looking statement. More information on these and other risks can be found in JOYY’s SEC filings. All information in this release is current as of its date, and JOYY disclaims any obligation to update any forward-looking statement unless required by law.
Investor Relations Contact
JOYY Inc.
Jane Xie/Maggie Yan
Email: joyy-ir@joyy.com
ICR, Inc.
Robin Yang
Email: joyy@icrinc.com
