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Rumor: Orca Digital Acquires Yiting, Plans US IPO

DoNews, 7/18/11

An industry source has revealed that Beijing-based online music provider Orca Digital, which operates the site, recently purchased rival Beijing Yiting Information Technology ( 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.

Keywords: Internet IPO Orca online music M&A Yiting Top100

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