RadioandMusic
| 25 Oct 2020
Rs 375 crore raised by music streaming app Gaana

MUMBAI: Music streaming app Gaana raises Rs 375 crore in debt from Giant Tencent, and Times Internet (TIL) existing shareholders Chinese technology.

After tencent led a $115 million funding for the music streaming app,the development came after nearly 2 years of its investment.The music streaming app raised Rs 375 crore debt from existing shareholders, times internet, and Tencent.

Gaana India’s leading music streaming has over 185 million monthly users said company spokesperson

Gaana’s fundraising was first reported by news portal Entrackr.

Times Internet is is the digital arm of the Times Group, which also publishes this paper

Gaana had debuted a short-video platform HotShots in the month of july , in a bid to capitalise on the unprecedented consumer demand following the ban on ByteDance-owned TikTok.

Exclusive contracts with several top top TikTok influencers was signed by music streaming app.