Jul 18, 2011
An industry source has revealed that Beijing-based online music provider Orca Digital, which operates the site Top100.cn, recently purchased rival Beijing Yiting Information Technology (1ting.com) for USD 10 mln. Once the acquisition is complete, Orca will pursue a US IPO as "China's Pandora."
The source also said that of the total USD 10 mln paid in the deal, UDS 5 mln was paid in cash and the remainder in company stock.
SendingThe information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.
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