NetEase Music Raised $700 Million From Alibaba , YF Capital and Other Institutions

NetEase announced on September 6 that NetEase Music has raised $700 million from Alibaba , YF Capital and Other Institutions. This fund-raising event was the series B2 round funding of NetEase Music. NetEase still enjoys exclusive control over NetEase Music after this investment.

Officially launched in April 2013, NetEase Music now boasts over 800 million users. It raised ￥750 million in series A round funding in April 2017. In November 2018, NetEase Music raised $600 million in a series B round funding.