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Sovereign Wealth Funds Briefing - Categorized | Investment

GIC makes huge investment in KKBOX

Posted on 29 August 2014

The Government of Singapore Investment Corp (GIC) has invested US$104 million in the popular Taiwan-based music streaming service KKBOX Inc. The investment plans to boost KKBOX’s business across Asia, the two sides said.
A joint statement said GIC’s investment would be used to fund KKBOX’s “overseas expansion, as well as refine its technology and service.” The investment underlines GIC’s “confidence in the long-term growth potential of KKBOX given its unique music streaming service and strong franchise in its home markets,” it said………………………………………..Full Article: Source


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