NetEase Inc. secured more than US$600 million in a financing round for its online music platform, NetEase Cloud Music.
Strategic partner Baidu Inc., General Atlantic Service Co. LP, Boyu Capital Consultancy Co. Ltd. and several other investors participated in the funding round.
NetEase will continue to be the controlling shareholder of NetEase Cloud Music.
The Chinese company, which was launched in April 2013, has more than 600 million registered users and hosts more than 1.2 million songs on its platform, according to a Nov. 12 news release.
