Oppo, Xiaomi join Hong Kong online music-streaming firm’s $60m round

Details:

• The funding round was led by Oppo, with Xiaomi and Huiyou Capital also taking part in the round.
• Allsaints Music Group has worldwide tie-ups with mobile phone makers such as Xiaomi, Oppo, and Vivo to launch a wide variety of music for streaming.

Dive deeper:

• The Allsaints Music Group was founded by Zhu Yingbo and Chen Ge, veterans in the digital music space, with the goal of building a platform for the next generation of musicians.
• Last week, it was reported that Tencent Music may delay its plans for its US$5.5 billion Hong Kong public listing amid a crackdown by Chinese authorities, who directed the tech giant to give up exclusive music rights to smaller labels.