Google previously partnered with Mobovi to bring its Android Wear platform to China, and now the search giant has invested in the company.
The exact amount of investment that Google has invested in Mobovi is not known exactly. Some rumors have suggested that it could be as much as $60 million. It is not clear yet exactly what the new investment by Google will be used for.
Background and Significance of the Investment
Mobovi has had $75 million to date in total investment since they launched three years ago. The company has said that the search giant now holds a minority stake in Mobovi, so we guess the investment may be a bit less than the suggested $60 million. This investment is significant as it highlights Google’s strategic interest in expanding its presence in the Chinese market, particularly in the wearable technology sector.
Mobovi was started by former Google employees Zhifei Li and Mike Lei. The company has a popular mobile voice search service in China called Chumenwenwen. This service has been instrumental in establishing Mobovi as a key player in the Chinese tech industry. The partnership with Google is expected to further enhance Mobovi’s capabilities and market reach.
Potential Uses of the Investment
While the specific details of how the investment will be utilized remain unclear, there are several potential areas where the funds could be directed. One possibility is the development and enhancement of Mobovi’s existing technologies, such as Chumenwenwen. By improving their voice search capabilities, Mobovi could offer even more sophisticated and accurate services to their users.
Another potential use of the investment could be in expanding Mobovi’s product line. Given Google’s interest in wearable technology, it’s plausible that the funds could be used to develop new wearable devices or improve existing ones. This could include advancements in smartwatch technology, fitness trackers, or other innovative wearable gadgets.
Moreover, the investment could also be used to strengthen Mobovi’s market position in China. With additional financial resources, Mobovi could invest in marketing and promotional activities to increase brand awareness and attract more users. This could be particularly important in a competitive market like China, where numerous tech companies are vying for consumer attention.
Additionally, the partnership with Google could open up new opportunities for Mobovi to collaborate with other companies and expand its reach beyond China. By leveraging Google’s global network and resources, Mobovi could explore international markets and establish a presence in other countries.
In conclusion, Google’s investment in Mobovi signifies a strategic move to strengthen its position in the Chinese market and further develop its wearable technology offerings. While the exact amount and specific uses of the investment remain undisclosed, it is clear that this partnership holds great potential for both companies. With Mobovi’s expertise in voice search technology and Google’s resources and global reach, this collaboration could lead to exciting advancements in the tech industry.
Source TechCrunch
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