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Netease Cloud Music was financed by Alibaba, Yunfeng Fund and other $700 million

via:网易科技     time:2019/9/6 8:30:36     readed:60

NetEase will continue to support the development of NetEase cloud music, promote Chinese original musicians to create better works, realize greater dreams, and provide world-class music services for Chinese users.

Alibaba said: we are pleased to participate in the development of NetEase cloud music and hope that more chemical reactions will also occur on both sides of the cultural and entertainment sector in the future.

It is understood that NetEase cloud music officially launched in April 2013, has achieved sustained and rapid growth in more than six years, and with song lists, reviews, personalized recommendations and a unique community atmosphere, high-quality original music soil, forming a differentiated characteristic advantage. At present, NetEase cloud music has more than 800 million users, ranking in the first camp of online music in China.

The sustained and rapid growth under the path of differentiation has also made Netease Cloud Music continue to gain a positive outlook on the capital market. In April 2017, NetEase Cloud Music completed a round of financing of 750 million yuan. In November 2018, NetEase Cloud Music completed over $600 million in B round financing.

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