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China’s Largest Music-Streaming Company Files For US IPO

3Oct By Gauri SinghNo Comments

Market

China’s Largest Music-Streaming Company Files For US IPO

China’s largest music-streaming company Tencent Music Entertainment Group has filed an initial public offering (IPO) in the United States under the symbol "TME". This is expected to be the biggest US IPO by a Chinese company. The company is expecting a valuation of about $25 billion. It includes Spotify-like digital streaming apps QQ Music, Kugou and karaoke app WeSing. The music company is expecting to raise an amount in its first IPO filings which is used to calculate registration fees. The final size of the IPO could be different. Market leader Spotify debuted in April and its shares rose nearly 13% on the first trading day. The company also reported a profit of $263 million on a revenue of $1.30 billion for six months ended June 30. Tencent owns 58.1% stake in Tencent Music, a...

170 Million Downloads-This Chinese Application Has Outperformed Indian Applications

SHAREit started its campus activities on November 14, 2016. The teams summed up with many well-known Indian bloggers went on campus to discuss with college students about the impact of SHAREit on the Indian Internet market, sharing interesting stories in the course of development, maintenance and application of the software. There are around 170 million users in India, out of which most of them are college students. The process of information sharing is mainly from that group, and they most likely rely on speed sharing through SHAREit. At Indian universities, all students are familiar with SHAREit as the main near field transmission software. In daily life, it has become the most commonly used app among college students, sharing photos, music, videos. SHAREit recently topped the Too...

How to set up a Chinese company as a foreigner

Every country has its own set of rules and regulations when it comes to setting up a business. China is no exception, but what are some of the challenges for foreigners setting up a business in China? Michael Michelini, will tell you how? A, 34 years, old Shenzhen-based American internet dude helping western companies leverage Chinese social media for business. Michelini is also the author of Destination China: Entrepreneurs’ Journey from Wall Street to business in China. What are some of the difficulties a foreigner faces opening and operating a business in China? Michelini: It’s a lot more difficult as a foreigner to open a company in China, it’s not the same as a Chinese person opening a company in China. Also maintaining a business is harder than for Chinese companie...