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Netease Cloud Music is still absolutely controlled by Alibaba, Yunfeng Fund and other $700 million in financing.

via:博客园     time:2019/9/6 8:30:28     readed:52

NetEase science and technology news, September 6 news, NetEase company currently announced that NetEase cloud music, Yunfeng fund and other a total of 700 million US dollars in financing. It is reported that the financing for NetEase cloud music B2 round financing, NetEase company still enjoy separate control of NetEase cloud music.

Netease said that Netease will continue to promote the focus strategy, concentrate resources in the dominant areas, and create continuous value for users through continuous innovation. Netease will continue to vigorously support the development of Netease cloud music, promote Chinese original musicians to create better works, achieve greater dreams, and provide world-class music services for Chinese users.

Alibaba said that we are very happy to participate in the development of NetEase Yun music, and hope that in the future, more chemical reactions will be produced on both sides of the cultural entertainment sector.

It is understood that Netease Yun Music officially launched in April 2013, and has achieved sustained and rapid growth for more than six years. It has formed a distinctive advantage by virtue of song lists, comments, personalized recommendations, unique community atmosphere and high-quality original music soil. At present, the total number of users of Netease cloud music is over 800 million, ranking first in China's online music camp.

The continuous rapid growth under the differentiation path also makes NetEase cloud music continue to gain capital market bullish. In April 2017, NetEase cloud music completed 750 million yuan A round of financing. In November 2018, NetEase cloud music completed more than $600 million B round financing.

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