Gaana raised $51 mn In Debt From Tencent, Times Internet

Audio streaming platform Gaana, which was started by Times Media, is raising $51 Mn in debt from Tencent Cloud Europe and Times Internet Limited. The development comes a week after Gaana got stakeholders’ approval to take a $5 Mn loan for “principal business requirements”.

Commenting on Gaana reaching the top spot, CEO Prashan Agarwal had said, “As the industry leader, we have constantly innovated on the user experience to appeal to the first-generation mobile internet user and gained a deep understanding of the Indian music lover’s preferences that will now help us onboard the next quarter-billion Indians from tier II and tier III cities onto the music streaming bandwagon.”

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