Gaana has raised 375 crores in debt funding from existing shareholders Chinese technology giant Tencent, and Times Internet (TIL).
The development comes nearly two years after Tencent led a $115 million funding round in the music streaming service. “We recently raised 375 crore debt from existing shareholders, Times Internet, and Tencent. Gaana is India’s leading music streaming service with over 185 million monthly active users,” a company spokesperson said. Gaana’s fundraising was first reported by the information portal Entrackr. In July, Gaana had debuted a short-video platform HotShots, in a bid to capitalize on the unprecedented shopper demand following the ban on Byte Dance-owned TikTok. The music streaming service has signed up unique contracts with a number of prime TikTok influencers, ET reported in August.
US Judge orders Trump administration to defend or postpone the ban on TikTok
International
Sep 28, 2020
Twinkle Agarwal
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Editor: Ekta Joshi
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Donald Trump ordered the American firms to stop doing business with the Chinese app. He cited the reason that these apps threaten the economy and national security of the United States. He alleged that all the data of the Americans were flooded to the Chinese government.Originally the ban was to take effect on September 20, but later the administration of Donald Trump asked the company to surrender its control to the US entity and thus the ban was postponed to November 12.Not only this, the...
Tik Tok Chooses Oracle, Rejects Microsoft in Bid to sell the App’s operations in the US
Business
Sep 15, 2020
Neha Bharti
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Editor: Ekta Joshi
)
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The owner of the Tik Tok has preferred Oracle over Microsoft as a suitor to buy the popular video-sharing app according to the sources. Microsoft announced on September 13, 2020 that its bid to buy Tik Tok has been rejected. They further said that Tik Tok’s parent company Bytedance has said that they would not sell Tik Tok US operation to Microsoft. This bid by the Chinese-owned app was done after a week before President Donald Trump has promised to ban Tik Tok in the US by the...
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