NetEase’s music arm NetEase Cloud Music receives USD 108 M in Series A
NetEase Cloud Music
Founded in: 2013
Financing status: RMB 750 million (USD 108 million) Series A round in 2017
NetEase Cloud Music is an online music platform well known for its music recommendations and playlist sharing under the flagship of NetEase. It is famous for recommending songs based on users’ music search history and the number of times a user listen to specific songs via its big data technology. NetEase Cloud Music launched in 2013, and it has 300 million users so far. It announced that it has a library of more than 10 million songs at its July 2016 press conference.
This Series A financing round was led by Shanghai Media Group and joined by the Mango Cultural and Creative Industry Private Equity Fund. The capital raised in this financing will mainly be used for enhancing user experience of NetEase Cloud Music’s products, and more content investments in order to provide users with high quality music.
Big data service provider DataGrand receives USD 7 M in Series A
Founder: Chen Yunwen
Founded in: 2015
Financing status: RMB 50 million (USD 7 million) Series A round in 2017
DataGrand is a big data service provider that mainly provides solutions for electronic commerce and media industries. A Shanghai company founded in 2017, most of its core members previously worked in Tencent and Baidu. Based on the company’s understanding of text, intelligent recommendation engines, vertical search engines, data mining, user portraits and other technology, DataGrand’s many famous customers include WeChat, China Merchant Bank, HuaWei, and ZTE.
DataGrand’s angel financing round was led by ZhenFund, and this Series A financing round was led by Softbank Asia Infrastructure Fund. DataGrand will use this fund to expand its influence on China’s big data market and focus on the development of big data technology.
(Top photo from 58pic.com)