Singapore Based Viki Acquired by Rakuten

viki_logo_500Rakuten, the Japan based e-commerce giant, acquired Viki, a Singapore based global streaming video platform that crowd sources foreign language translated subtitles, for a reported $200 million.

Based in Singapore, Viki operates similarly to Hulu.com by offering premium content such as primetime TV shows and movies. Its advantage over other on-demand video services is crowdsourced subtitles from 22 million users in more than 160 languages, which allows Viki’s content providers to quickly enter new markets.

Rakuten has acquired Kobo, an Android based tablet e-reader services provider that competes with Amazon Kindle, and Wauki.tv, a European streaming video platform that competes with Amazon’s LOVEFiLM.

Full story at TechCrunch

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