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Broadband

NetEase Cloud Music raises USD 600 mln in latest funding round

Tuesday 13 November 2018 | 14:48 CET | News
NetEase Cloud Music, the music streaming platform of Chinese internet and online game services provider NetEase, raised over USD 600 million during its latest funding round. Baidu participated in the round, as did General Atlantic, Boyu Capital and other investors. NetEase added that it remains the controlling shareholder in the streaming platform, which launched in April 2013. The company will use the money raised to increase its penetration in the Chinese market.

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Categories: Broadcast & Satellite / Internet
Companies: Baidu
Countries: China
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