Bloomberg:

Tencent Music agrees to buy podcasting startup Ximalaya for $1.3B in cash, plus some stock, in a bid to become China's Spotify; Ximalaya had 303M MAUs in 2023  —  The company, a unit of WeChat-operator Tencent Holdings Ltd., will issue shares to its founders and other backers to help fund the acquisition, it said in a statement.

Bloomberg:

Tencent Music agrees to buy podcasting startup Ximalaya for $1.3B in cash, plus some stock, in a bid to become China's Spotify; Ximalaya had 303M MAUs in 2023  —  The company, a unit of WeChat-operator Tencent Holdings Ltd., will issue shares to its founders and other backers to help fund the acquisition, it said in a statement.

Source: TechMeme
Source Link: http://www.techmeme.com/250610/p11#a250610p11