Qingting FM Completes New Round of Financing, Led by COL, Followed by Xiaomi

Smooth Radio
(Source: Smooth Radio)

Sina Tech reported on Monday that Qingting FM, an online audio platform launched in September 2011, announced the completion of a new round of financing, which was led by COL and followed by Xiaomi, Ruiyi Investment and Puwei Investment. In June this year, the audio platform received an F round of financing led by WeMove Capital.

COL, the leading investor in this round, was founded in 2000, holds a large number of literary work copyrights and contracted authors. In May, 2020, COL reached a strategic cooperation agreement with Qingting FM’s operating entity, Shanghai Microphone Culture Media Co., Ltd. COL provides Qingting FM with its authorized literary works and Qingting FM promotes COL’s audio works on the platform.

Xiaomi’s investment will promote the user growth of Qingting FM. Xiaomi’s Xiaoai Tongxue have been used on  Qingting FM’s platform since 2018. Based on past agreements, Xiaomi’s existing radio products will be uploaded to Qingting FM and will be pre-installed on all Xiaomi smartphones.

In the overall ecological layout, Qingting FM has adopted the strategy of cooperation with hardware manufacturers. The company has said that it will continue to explore new applications that can be used in vehicles in the future.

SEE ALSO: Chinese Digital Audio Platform Ximalaya Applies for Listing in Hong Kong after Retracting US IPO

At present, the number of monthly active users of Qingting FM has reached 130 million, and the number of certified anchors exceeds 350,000, covering finance, music, audio books and so on. Qingting FM enjoys more than 500 partners and can be found on more than 90 million built-in smart home appliances, wearable devices and intelligent vehicle terminals.