Tencent leads $115m round for Indian music service Gaana
Posted on: 28 février 2018, by : Stuart Dredge

Indian streaming service Gaana has raised a $115m funding round led by Chinese tech firm Tencent, as it sets its sights on growing to 200 million active users in the next three years.
That would be a sharp rise from the 60 million monthly active users that Gaana has now, with parent company Times Internet publicly mulling plans for an IPO for its music-streaming service.
“Tencent is a strategic partner for us, with deep expertise in digital music that will benefit Gaana. We will be very happy to see Gaana continue to grow and potentially IPO in a few years,” Times Internet vice chairman Satyan Gajwani told the Economic Times.
Gaana CEO Prashan Agarwal added (per the Times of India) that the funding will be used to beef up Gaana’s personalisation features, as well as to boost its subscription tier. “We have penetrated only 5-6% of India. Over the next few years, we want to take this to 20-30%,” he said.
The post Tencent leads $115m round for Indian music service Gaana appeared first on Music Ally.
Source: Music ally

Related Posts

Aller à la barre d’outils