According to the source, the purpose of this round of financing is to prepare for the company's listing, and it may be used for mergers and acquisitions, etc.
On June 19th, according to a relevant person from Fenbei Network, the company will soon secure a financing in the tens of millions of US dollars.
According to the source, the purpose of this round of financing is to prepare for the company's listing, and it may be used for mergers and acquisitions, etc. However, he indicated that due to currently being in the closing stages, it would be inappropriate to disclose the name of the other party and the specific amount.
Previously, Fenbei Network had separately received a $2 million investment from IDG and a $6 million investment from Alcatel. Both these rounds of funds were fully in place at the beginning of this year.
It is understood that "Fenbei Network" is an online music promotion platform, formerly known as the "No.1 Chinese Music Community 163888.net". The platform was responsible for launching well-known online songs such as "Rats Love Rice", "Don't Say My Tears Mean Nothing to You", and "Won't Sell Even If I Die".
Source: DOnews