Baidu invests in Netease cloud music, making online melody market a new battlefield for BAT - ChinaKnowledge
Within the Group it has financial terminal, publishing, newswires, research, multimedia production and a wide range of consulting services offer to foreign businesses seeking opportunities in China. Oct 15, 2018 (China Knowledge) - Netease cloud music announced, last Friday, that they got a new round of financing, and the investors include Baidu, General Atlantic, Boyu Capital, among which Baidu is a strategic investor, and Cygnus Equity serves as the exclusive financial advisor for this round of financing. This revenue generated from the latest round of financing will be used for the support of original musicians, and cooperate with partners to jointly build music ecological chain and value chain, bringing better and richer music service experience to users. Last April, Netease cloud music obtained RMB 750 million from its A round of financing, last week was its another major financing in recent years.