01.09.2014 - GIC's US$104m music bet raises hopes for regional start-ups
Singapore sovereign wealth fund GIC's US$104 million investment in Taiwan's KKBOX has raised hopes about investor appetite for start-ups, and comes as the music streaming industry is becoming a force to be reckoned with. GIC said on Thursday that it had taken an equity investment in KKBOX, a Taiwan music streaming service that claims more than 10 million users in Taiwan, Japan, Hong Kong, Singapore, Malaysia and Thailand. KKBOX co-founder and chief executive Chris Lin said the proceeds of the investment would be used to fund the company's overseas expansion and to improve technology and service..............................................Full Article: Source
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