Ximalaya is seeking to raise funds at about $3.5 billion valuation as the Chinese online podcast and radio services startup looks to expand further, according to people familiar with the matter.
The company aims to raise about $350 million in a new fundraising round, which could be the last one ahead of a potential initial public offering, the people said, asking not to be identified because the matter is private. The startup is in talks with potential investors including private equity firms and pension funds for the round, one of the people said.
