Chinese audio streaming platform Ximalaya FM has closed a 4 billion yuan ($580 million) financing round.
The investors that participated in the round include, investment holding firm Tencent, U.S. peers Goldman Sachs, and General Atlantic.
The latest funding round expects Ximalaya’s valuation go up to $3.48 billion ahead of a planned initial public offering on the Hong Kong Stock Exchange in the second half of 2019.
Ximalaya has earlier completed six financing rounds.