KKBOX, an Asian music streaming service provider, raised $104m in funding.
Singapore-based sovereign wealth fund GIC made the investment.
The company intends to use the funds for international expansions as well as to refine its technology and service.
Established in 2004 by Chris Lin, CEO, KKBOX is on of the leading digital music platform in Asia, available in Taiwan, Japan, Hong Kong, Singapore, Malaysia and Thailand with over 10 million users. Beyond the management team, major shareholders include Japanese telecom giant KDDI, GIC, and HTC. ChungHwa Telecom, Taiwan’s largest telecom carrier, will remain as a 30% shareholder of KKBOX’s Taiwan subsidiary.
FinSMEs
28/08/2014