Thomas Trutschel/Photothek via Getty Images
The logo of the music streaming service SoundCloud is displayed on a smartphone on Jan. 16, 2019 in Berlin, Germany.
The company is close to announcing an alternative streaming payout plan.
SoundCloud is preparing to introduce a new payment system that would allow fans to pay artists directly, multiple sources close to the situation tell
Billboard, setting what could be a game-changing precedent for the streaming world.
The move would make SoundCloud the first major music streaming service to embrace a direct payment model, a strategy that has been popular with Chinese streaming services like Tencent Music’s QQ Music for years, and one that subscription services like Patreon and OnlyFans have built their businesses around, as musicians and fans around the world clamor for bigger digital music distributors to do the same. A source close to the company says SoundCloud is still exploring several alternative streaming payout models an
Zomato closes $660 million funding round: Deepinder Goyal
December 21, 2020
Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted on Friday evening that the company had added 10 new investors, including Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae, and Steadview. Zomato is also in the process of closing a $140 million secondary transaction.
Some of these companies had also participated in a funding round in November, when a total of $195 million (₹1,452.4 crore) was invested into the company, including Kora Management, Luxor Capital Group, Mirae Asset, Steadview Capital, and Bailie Gifford. In October, Kora Investments pumped in $52 million into the company. In September, MacRitchie Investments, a subsidiary unit of Singapore-based Temasek Holdings, had invested $60 million.