Chinese podcast startup Ximalaya seeks $3.5b value

Shanghai, China. Photo by Merlin Kraus on Unsplash

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.

Considerations are ongoing and the fundraising size could still change, the people said. A representative for Ximalaya declined to comment.

The Shanghai-based company has 600 million users who spend an average 170 minutes listening to its shows as of October, the company said in a statement on Thursday. Its content ranges from audio books, training seminars, foreign language learning to music and radio. It generates revenue via paid content, live-streaming and advertisements.

Ximalaya competes with Lizhi FM, a Guangzhou-based company that is planning for a listing in the U.S., people familiar with the matter have said.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.