FILE PHOTO: A man plays a computer game at an internet cafe in Beijing,China May 9, 2014. REUTERS/Kim Kyung-Hoon/File Photo
China’s once high-flying game streaming platform Panda TV has announced it will end its service after the company failed to raise fresh funds to keep operations going in a cash-intensive business.
Founded in 2015 by Wang Sicong, an entrepreneur and son of Chinese tycoon Wang Jianlin, Shanghai-based Panda TV said in a posting on microblogging site Weibo on March 8 that it has started a “wandering plan”, asking “engineers to gradually cut off the connection with the mother star”, an apparent reference to China’s recent blockbuster sci-fi movie Wandering Earth, which tells the story of Chinese people saving humanity by moving the planet to another solar system.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
