Rumor: Online Radio Platform Qingting FM Wins RMB 1 Bln Series E Funding

Sansheng, 9/22/17

Shanghai-based Microphone Culture Media, operator of online and mobile radio platform Qingting FM, has reportedly completed more than RMB 1 bln in new funding, according to online news media outlet Sansheng. Investors reportedly include cultural industry investment funds backed by Chinese internet giants Baidu (Nasdaq: BIDU), Alibaba Group (NYSE: BABA), and Tencent (0700.HK), as well as several funds supported by China's Ministry of Finance.

Sansheng reported that Qingting FM declined its request for comment on the matter, but said that the company may make an announcement in the future.

Editor's Note: Chinese IT industry investment information portal IT Juzi reports this newest round of funding as Series E. For more information on this topic, please see Online Radio Platform Qingting FM Secures Series D Funding, MD 2/25/16 issue.

Keywords: M&A government support online radio Internet funding Baidu Tencent 0700.HK BIDU Alibaba Group Series E BABA Qingting FM Microphone Culture Media mobile radio broadcasting

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