Music Streamer KKbox Raises $104 Million For International Expansion
Watch out Spotify, Deezer, Rhaspody and the rest. A new player is flush with cash and ready to expand. Taiwan based mobile music streaming service KKbox has raised $104 million to fuel its international expansion. Singapore fund GIC funded the new round. Other major shareholders include Japanese telco KDDI and HTC.
ChungHwa Telecom, Taiwan's largest mobile operator, will maintain a 30% stake in KKBOX's Taiwan subsidiary.
It's not clear which markets KKbox, which has a deep catalog of 10 million mostly Asian tracks, will expand into next. The service is currently available in Taiwan, Japan, Hong Kong, Singapore, Malaysia and Thailand.
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