TechCrunch
KKBOX, a Taiwan-based company that has provided streaming music services in Asia since before Spotify was founded, announced (link in Chinese) that it has raised $104 million from Singapore GIC (formerly known as the Government of Singapore Investment Corporation). KKBOX co-founder and CEO Chris Lin said that the funds will be used to develop the company’s tech platform and services, as well as continue expanding into overseas markets.
The compnay currently has 10 million users and offers streaming music services in six Asian markets: Taiwan, Japan, Hong Kong, Singapore, Malaysia, and Thailand. Other investors include KDDI, Japan’s second-largest telecommunications company, HTC, and Taiwan’s Chunghwa Telecom.
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