Gaana is a music streaming service based in India.
In April 2019, Gaana announced that it had increased its monthly active users (MAUs) to over 100 million, and expected to grow that number to over 200 million over the next two years.
In December 2019, Gaana CEO Prashan Agarwal announced that Gaana’s MAU figure had surpassed 125 million.
Gaana then announced in August 2020 that it had surpassed 185m monthly active users,
Tencent’s stake in Gaana
Chinese media giant Tencent Holdings led a $115m investment into Gaana in February 2018.
In September 2020, it was revealed that Gaana had raised 3.75bn INR (approximately $51m) in debt to help finance its growth.
As a result of that debt raise, Tencent’s ownership stake in Gaana increased to 34.44%.
Gaana’s majority stakeholder Times Internet saw its stake reduce to 60.18%, while the platform’s third stakeholder, ESOP Pool, owned 5.38% following the debt raise.Music Business Worldwide