The evening news of Sina Technologies on October 12, Netease Yunyun Music announced a new round of financing, investors including Baidu, General Atlantic, Boyu Capital, among which Baidu is a strategic investor. After the new round of financing, NetEase still enjoys the control of NetEase cloud music alone. Gao Hu capital is the exclusive financial adviser for this round of financing.
The head of Netease's cloud music business said that the main purpose of this round of financing is to introduce long-term partners with high quality and superior resources to inject new momentum into the rapid development of the business.
Netease Yunyun Music said that this round of financing will mainly be used for original musicians support and music upstream and downstream solutions to establish, work together to build music ecological chain and value chain, to bring users a better and rich music service experience.
It is understood that Baidu, General Atlantic, Boyu Capital and other investment Netease Cloud Music, based on China's online music market and Netease Cloud Music long-term growth prospects, the future of several parties will integrate related resources, give full play to their respective advantages, to promote the future of Netease Cloud Music The online music ecological layout and sustained rapid growth. (Ze Yu)
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