Times Bridge has invested Rs. 147 cr in Smule

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Smule, a music focused social network has received $20 million i.e. approximately Rs. 147 crore  investment from the Times Bridge as the San Francisco headquartered company is looking to expand its presence in India as its second international market.

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Just like the part of this deal, Times Bridge which is a global investment and the partnership arms of thr Times Group who is also the publisher pf thos particular paper will be working with the Smule in building communities, the collaborations with the artistes thereby creating the targeted regional programmes and advertising said the comapny in a statement.

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Th latest investment done by Times Bridge is the thord one in this year and the company has also invested before in  a film streaming service MUBI and the online community and the marketplace for the home decor and the home  improvement Houzz.

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The Chief Executive of Smule, Jeffrey Smith said “Indian audiences are passionate about connecting through music. We want to enhance those connections in an authentic way and we are thrilled to partner with Times Bridge to marshal the best of The Times Group on Smule’s behalf,”

This new round of financing comes aboit an year after the 10 year old company was reported for raising $54 million from the Chinese Internet
The new round of financing comes about a year after the 10-year-old company was reported to have raised $54 million from Chinese internet conglomerate amassed Tencent in the month of May in 2017, and which, reportedly, valued the company at over $600 million at the time.

Smule is a deeply original, bold idea with a mission of changing the way the world experiences music. Our investment will advance Smule’s music mission across the Indian subcontinent and unlock the creativity of many millions along the way,” said the Chief Executive of Times Bridge, Rishi Jaitley.

Smule also counts the interests of the investment firms those include Adams Street Partners, Franklin Templeton, Shasta Ventures, Floodgate and Bessemer.
Tencent is also the investor of the streaming music app Gaana whih is incubated by the Times Internet which is the digital arm of the Times Group that has participated in the $115 million funding round in the month of February.

With Smule, the users are able to sing along woth their favourite artisrs as well as the other users all around the globe and also claims to have 50 million monthly active users.

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