The great Chinese VR race

How Baidu, Alibaba, and Tencent are Investing in VR

The BAT web companies — Alibaba, Tencent and Baidu — are using their war chests for a different take on virtual reality (VR) than their overseas competitors. Instead of building and investing in headsets like Facebook of the US, Sony of Japan and HTC of Taiwan, the Chinese trio are becoming middlemen: creating platforms and content for when a dominant headset emerges. With 688 million Internet users in China alone, BAT already have a massive audience for VR content consumption. China’s fast growing VR market is expected to reach 55 billion yuan in value by 2020, up from 1.5 billion yuan last year, according to the Guangzhou research firm iMedia. ….[READ]