Ping An invests in social video hangout app

One of China’s largest insurers Ping An decided to invest an undisclosed amount in Singapore-based social video streaming app Bigo Live. Get a feel for the brand, which is valued at $400 million.

The service is popular among peeps age 18 to 25 that use it to broadcast videos anytime and anywhere. Bottom Line: a hangout for those that have no where else to hang.