Hong Kong-based over-the-top (OTT) platform Viu has reportedly decided to fold its India operations amid intense competition and cash-burn.

According to ET, Arun Prakash, chief strategy officer of Viu, in an all-hands meeting at the Mumbai’s office of the company, told employees that Viu is going to fold all its operations in India.

Stressing the dearth of funds, the employee further added that even the marketing budget that was given to Viu’s Indian operations was just $8 Mn.

Soon, Bimal Unnikrishnan, Viu’s India head of content, also put down his papers in January 2019.

Besides India and HongKong, Viu provides its OTT service in many other countries in Asia, Africa and the Middle East. | To read full story, visit https://startuparound.com/read/1576569607.9719856/Adios-Amigos:-Viu-To-India-Amid-Intensive-Competition?ref=audio_experience