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The company claimed in June 2017 that its average revenue per user (ARPU) has crossed $ 13.5 (¥ 90).īeyond content, Ximalaya has expanded into smart devices and introduced an AI-powered speaker Xiaoya and an in-car Bluetooth player.
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In a sense, Ximalaya is like the Apple Podcast in China.ĭuring its paid content event 123 Knowledge in November 2017, the company’s sales of paid content reached ¥196 million ($ 29.5 million), quadrupling the number in 2016. Currently, the paid content on its platform covers categories including business, foreign languages, culture, and audiobooks.
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While providing a wide range of free content, Ximalaya pioneered the paid content industry in June 2016 by launching its paid content column. It boasted of 450 million users and surpassed 75.5 million monthly active users in Q1 2018, according to consulting firm BDR.
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Ximalaya abandoned its VIE structure in 2015 as it attempted to list on the then projected Chinese strategic emerging industries board, which was thereafter canceled in 2016.įounded in 2012, Ximalaya provides a platform for users to stream or download professional-or-amateur-generated content.
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It offers users a platform to access free or paid content from roughly 5.2 million professional or amateur content creators.Ximalaya FM, China’s largest online audio streaming platform, according to a local media report, is in talks with Tencent to raise a new financing round worth US$602 million (RMB4 billion) at a $3.6 billion (RMB24 billion) valuation.Īdditionally, the company plans to raise $ 7.5 billion (RMB50 billion ) through a Hong Kong IPO next year and is currently reconstructed a VIE structure, according to the same report. Ximalaya had about 250 million monthly active users, nearly a fifth of China's population, in the first quarter of 2021, according to its IPO prospectus. The other underwriters Morgan Stanley (MS.N) and CICC (3908.HK) did not respond to requests for comment. Goldman Sachs (GS.N) and Bank of America (BAC.N),two underwriters on Ximalaya's IPO, declined to comment. "The CAC thought Hong Kong would be better for ideological platforms such as Ximalaya," said a third person. exchanges if they do not comply with U.S. securities regulator began a rollout of rules that would exclude foreign companies from U.S. regulators will potentially gain greater access to audit documents of Chinese companies listed in New York, notably those that involve massive user or national data. "Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings," one of the sources said.Īnother of the sources said that the Ximalaya move also comes amid Beijing's growing concerns that U.S. tensions.Ĭhina's ruling Communist Party (CCP) has long maintained a tight grip over ideology and propaganda, especially over state media which it can use to assert its authority. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. IPO in late April, has started pre-marketing the float since early May and looked to raise about $500 million, said two of the sources. Shanghai-based Ximalaya, which filed publicly for the U.S.
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The CAC and Ximalaya did not respond to requests for comment. It will make a final decision about the listing venue within the next two weeks, they added.