• The Deals: Tencent Acquires 35% Stake in Indian Streaming Giant Gaana

    4 monthes ago - By Billboard

    Indian streaming giant Gaana has raised roughly $51 million in debt from existing investors Tencent Cloud Europe and Gaana majority owner Times Internet. Tencent contributed $41 million - bringing its stake in the service to 35% - while Times Internet added $10 million to the deal. Gaana additionally secured a $5 million loan last week for “principal business requirements.”
    The news was first reported by Inc42 .
    The Tencent investment is notable given the recent clash between the Chinese and Indian governments, which has resulted in a ban on apps from Chinese companies , including...
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