Topics
in vogue
AI
Amazon
Image Credits:Pocket FM
Apps
Biotech & Health
Climate
Image Credits:Pocket FM
Cloud Computing
commercialism
Crypto
Image Credits:Bain
Enterprise
EVs
Fintech
Fundraising
contrivance
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
societal
Space
Startups
TikTok
Transportation
Venture
More from TechCrunch
event
Startup Battlefield
StrictlyVC
newssheet
Podcasts
television
Partner Content
TechCrunch Brand Studio
Crunchboard
adjoin Us
Abu Dhabi ’s sovereign wealth stock ADIA is in talks to back Pocket FM in a large new rhythm of support , two sources familiar with the topic say TechCrunch , as the Amerind audio frequency - storytelling platform pee-pee deep inroads in the U.S.
The talks for the new round , which have been on-going for more than a calendar month , keep an eye on Pocket FM recently securing about $ 100 million in a separate round of funding from Lightspeed Venture Partners , the source say , call for anonymity as the details are not yet public .
TechCrunch reported about Lightspeed Venture Partnersengaging to invest in Pocket FM last twelvemonth . The Bengaluru - headquarter inauguration ’s talk with ADIA and closure of its late roundhaven’t been antecedently report .
The funding deliberations follow fast - pace revenue growth at the Indian startup , which tender serialized fiction and non - fiction depicted object spanning genres like romance , self - help and motivation . Its annualized revenue run rate toward the end of last year had exceed $ 160 million , TechCrunch previously reported , a six - to - seven times increase over a year ago .
ADIA and Pocket FM have n’t contact a deal yet , so the talks may end up not materialise into an investiture , people familiar with the issue cautioned . ADIA did n’t straightaway react to a request for comment , whereas Pocket FM said it abstain from commenting on market speculations .
Pocket FM — which also number Tencent , Tanglin and Times Internet among its backers — had in public place a goal of attain an ARR of $ 100 million by the end of 2023 .
Indian startups experienced a significant decline in large - musical scale financing round last year as prominent crossover fund , including Tiger Global and SoftBank , reduced their investments in India and other markets , while many well - hump India - concenter funds shifted their attention to backing former - stage startup , Bain said this calendar week .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
Pocket FM ’s elaboration into the U.S. , and offer customers a non - subscription , pay - as - you - go offer has proven specially successful . Pocket FM operates on a freemium model , leveraging long - form occasional storytelling to give exploiter the choice to pay only for mental object they prefer rather than the entire program library .
This feeler has allowed the startup to offer spare access to episode every 24 hours , with a fee for extra content . Since early 2022 , the platform has employed a micro - transaction good example , enabling users to purchase coin in local currentness to redeem for episode beyond the free quota . On average , listeners expend more than 110 second day by day on the platform , TechCrunch previously report .
The startup announced last calendar month that it will invest $ 40 million to grow its online recital platform Pocket Novel . More than 90,000 writers had sign up to the app in less than a calendar month , Pocket FM co - founder Rohan Nayakwroteon LinkedIn this week .
