Video subtitling site Viki sold to Rakuten

Rakuten, a Japanese retailer, acquired the online video and subtitling site Viki for about $200 million, according to AllThingsD. The site solicits its users to add subtitles to videos, in effect crowdsourcing its effort to translate videos into new languages.

The Singapore-based Viki had raised money from venture capital firms including Greylock Partners, Andreessen Horowitz, Charles River Ventures and Neoteny Labs, according to its website.

Rakuten has been following a path blazed by U.S. online retailers like Amazon (Nasdaq: AMZN) into digital content distribution, first with its acquisition of Canada-based Kobo, an e-reader platform, and now with Viki.

"Viki is a one-of-a-kind company with an entirely unique approach to video streaming that is truly global and truly engaging," Rakuten CEO Hiroshi Mikitani told the Wall Street Journal.

For more:
- AllThingsD had this story 
- the Wall Street Journal had this story (sub. req.)

Related articles:
Netflix says rise in online video distributors benefits content owners, creators 
Report sees Internet becoming an OTT battleground 
Walmart puts Vudu on homepage to drive streaming business

Suggested Articles

A massive media conglomerate like Comcast/NBCUniversal makes news often but this week was particularly busy with an acquisition, a big name reveal and a major…

DAZN, a subscription sports streaming service that launched in 2018, has a new distribution deal in place on Comcast’s X1 and Flex video platforms.

AT&T may be considering a sale of DirecTV, its struggling satellite provider, despite indications to the contrary. But, the likelihood of a sale depends on…