China’s Tencent Music raises $1.1 billion in downsized US IPO – TechCrunch

Tencent Music, China’s largest streaming company, has raised $1.1 billion in a U.S. IPO after it priced its shares at $13 a piece ahead of a listing on the Nasdaq. That makes it one of the largest tech listings of the year, but the pricing is at the bottom end of its $13-$15 range indicating that the much-anticipated IPO has felt the effects of an uncertain market. Indeed, the company is said to have paused the listing process, which it

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What Spotify can learn from Tencent Music – TechCrunch

What Spotify can learn from Tencent Music – TechCrunch

On Tuesday, Tencent Music Entertainment filed for an IPO in the US that is expected to value it in the $25-30 billion range, on par with Spotify’s IPO in April. The filing highlights just how different its social interaction and digital goods business is from the subscription models of leading music streaming services in Western countries. That divergence suggests an opportunity for Spotify or one of its rivals to gain a competitive advantage. Tencent Music is no small player: As

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