CICC joins $108m round for China music streaming business
China International Capital Corp. (CICC) and two strategic investors have provided RMB750 million ($108 million) in funding for Chinese internet company NetEase's online music platform. The investment values NetEase Cloud Music at approximately RMB8 billion.
The two strategic investors are Shanghai Media Group (SMG), which led the round, and Hunan Broadcasting System-owned Mango Media. The latter is participating through the Mango Cultural & Creative Industry...
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