$20 Billion Tencent Music Entertainment Group in Talks to Buy China Audio Sharing Platform Shanghai Ximalaya Technology for $2.4 Billion, Founded in 2012 & Previously Filed for Hong Kong IPO, 2023 Valuation at $2.5 Billion
28th April 2025 | Hong Kong
Tencent Music Entertainment Group ($20 billion market value) is in talks to buy China audio sharing platform Shanghai Ximalaya Technology for $2.4 billion. Shanghai Ximalaya Technology was founded in 2012, and had previously filed for a Hong Kong IPO. Shanghai Ximalaya Technology valuation was reported at $2.5 billion in 2023. China audio sharing platform Shanghai Ximalaya Technology had previously filed for a Hong Kong IPO, with 2023 valuation at $2.5 billion. Company Profile (Google Translate) – Shanghai Himalaya Technology Co., Ltd. was established in 2012. It is an online audio sharing platform loved by users. It is committed to sharing human wisdom with sound, serving a better life with sound, and providing spiritual food for the whole family for a lifetime. Today, Ximalaya has established a healthy, balanced and dynamic ecological content system that covers everything from head IP to long-tail content. The online audio service has covered the rich content needed by users at different ages from -1 to 100 years old. , accumulating 340 million pieces of audio content in 101 categories. Himalaya has promoted the “ear economy” featuring audio, with the number of content creators exceeding 13.51 million in 2021. Adhering to the concept of “everything has a voice”, Himalaya has connected and served hundreds of millions of users with sound, launched Xiaoya, China’s first full-content smart AI speaker, and opened a new communication era of voice interaction. At the same time, Himalaya strengthens the construction of smart ecology and improves the layout of hardware terminals such as cars, smart homes, smart speakers, smart wearables, etc., making voice and knowledge as ubiquitous as water and electricity, available at any time. Throughout 2021, the average monthly active users of Ximalaya across all scenarios have reached 268 million. Tencent Music Entertainment Group is is China’s leading online music and audio entertainment platform, operating a portfolio of highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. With a broad suite of services ranging from online music, audio and karaoke to music-centric live streaming and online concerts, we provide music fans with a dynamic fusion of channels to discover, listen to, sing, watch, perform and socialize around music. We offer a comprehensive music library in a variety of captivating formats that includes licensed as well as self- and co-produced content. With our competitive edge and extensive experience in copyright protection, we are expanding our strategic partnerships with top-tier labels and artists home and abroad while nurturing talented musicians and supporting their career growth. Our mission is to create endless possibilities with music and technology. Through technology-empowered product innovation, we remain committed to offering users more diverse and engaging music experiences and providing greater support to musicians and partners in the journey of music creation, production, and distribution.
“ $20 Billion Tencent Music Entertainment Group in Talks to Buy China Audio Sharing Platform Shanghai Ximalaya Technology for $2.4 Billion, Founded in 2012 & Previously Filed for Hong Kong IPO, 2023 Valuation at $2.5 Billion “
China Audio Sharing Platform Shanghai Ximalaya Technology Files for Hong Kong IPO, 2023 Valuation at $2.5 Billion
20th April 2024 – China audio sharing platform Shanghai Ximalaya Technology has filed for a Hong Kong IPO, with 2023 valuation at $2.5 billion. Company Profile (Google Translate) – Shanghai Himalaya Technology Co., Ltd. was established in 2012. It is an online audio sharing platform loved by users. It is committed to sharing human wisdom with sound, serving a better life with sound, and providing spiritual food for the whole family for a lifetime. Today, Ximalaya has established a healthy, balanced and dynamic ecological content system that covers everything from head IP to long-tail content. The online audio service has covered the rich content needed by users at different ages from -1 to 100 years old. , accumulating 340 million pieces of audio content in 101 categories. Himalaya has promoted the “ear economy” featuring audio, with the number of content creators exceeding 13.51 million in 2021. Adhering to the concept of “everything has a voice”, Himalaya has connected and served hundreds of millions of users with sound, launched Xiaoya, China’s first full-content smart AI speaker, and opened a new communication era of voice interaction. At the same time, Himalaya strengthens the construction of smart ecology and improves the layout of hardware terminals such as cars, smart homes, smart speakers, smart wearables, etc., making voice and knowledge as ubiquitous as water and electricity, available at any time. Throughout 2021, the average monthly active users of Ximalaya across all scenarios have reached 268 million.
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