Monday, August 3, 2020

Triller says it’s raising a $200m-$300m funding round | Music Ally

We reported yesterday on social music app Triller’s claim that it reached 50 million active users in June. Now the company may be preparing a huge funding round.

Fox Business reported that Triller “has commitments from investors of $200 million to $300 million” for its next round of funding, and while there was no official confirmation from Triller in that article, MBW noted that its CEO Mike Lu shared the report on LinkedIn with approval.

Also interesting: Fox Business’s claim that Triller has 65 million monthly active users, not 50 million. The latter figure was from a company press release, and thus official: if Triller has added 15 million active users in a month, that’s quite some growth.

The company is also playing up the patriotism angle, as rival TikTok faces ongoing scrutiny in the US for its Chinese ownership. “Triller represents a form of patriotic capitalism. National interest and excellent returns should not be mutually exclusive,” said Omeed Malik, who runs merchant bank Farvahar Partners, which is working on Triller’s funding round.

Stuart Dredge


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