Chinese web radio station Qingting FM has received a strategic investment from Xiaomi, founder, chairman and CEO of the company Zhang Qiang said in an internal letter today.
He said that the two sides will establish a closer strategic synergy relationship and jointly explore to create a smart audio ecosystem in the AIoT era. About the specific amount was not disclosed.
Currently, investors in Qingting FM include Xiaomi, Baidu and Alibaba. Zhang Qiang said that they are not only a firm strategic investor, but also an important partner in the construction of a full-scene audio ecosystem.
Full text of Zhang Qiang's internal letter:
To all partners of Qingting FM,
The first month that has just passed is something special for each of us. I would like to say thank you to your partners first:
Recently, the company's business has been rising steadily. The previous year's live-end festival revenue broke the historical record, and the single-day revenue peak of member day activities in February reached a new high.
After the epidemic, the company's multiple teams worked together to work with all sectors of the community to deliver sound energy, which was inseparable from the efforts of every dragonfly employee.
Today, I also want to share with you another good news: Qingting FM has won a strategic investment from Xiaomi. The two parties will establish a closer strategic synergy relationship and jointly explore and create a smart audio ecosystem in the AIoT era.
Last year, we released a transcript of the full-scenario audio ecosystem, with a MAU of 130 million and a daily listening time of 25 million hours ... Various excellent data performances confirm our strategic direction.
Today, our investors have brought together Xiaomi, Baidu and Alibaba. They are not only firm strategic investors, but also important partners in the construction of a full-scene audio ecosystem.
Next, we will continue to deepen the ecological construction of the whole scene. I believe that with the support of these powerful partners, 2020 will also be a bumper year for Qingting FM.
Zhang Qiang
Qingting FM Founder, Chairman, CEO
March 6, 2020
