# Hangzhou Liaosike Network Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hangzhou-liaosike-network-technology-co

- Industry: Software
- Headquarters: Hangzhou, China
- Website: www.xiami.com
- Total disclosed funding: $0.7M
- Latest round: Series A (Jun 1, 2008)
- Investors on record: 1

## About

Hangzhou Liaosike Network Technology Co., Ltd, operating under the brand Xiami, specializes in music content management and distribution, enhancing the accessibility and visibility of music across various platforms.Founded in 2006, Hangzhou Liaosike Network Technology Co., Ltd is located in Hangzhou, China. The company focuses on music content management and distribution, facilitating a platform for artists and labels to manage their music efficiently. In January 2013, Alibaba Group acquired a 95% stake in the company for USD 20 mn. The founder's history is not specified, and there are no mentions of any subsidiaries.?? (Conch Music) serves as a professional platform for music content management and distribution, utilizing the capabilities of the copyright library established by ???? (Xiami Music). It provides a music database management system that grants extensive metadata for music tracks, allowing enhanced visibility across platforms. Artists and labels can upload music without delay, managing content flexibly while benefiting from transparent revenue settlements based on usage data. The company has established partnerships with various commercial platforms, primarily in the e-commerce and digital service sectors, including the Alibaba ecosystem, with a focus on the Chinese market and potential expansion into other Asian regions.?? generates revenue through licensing agreements and distribution partnerships with music platforms. The business model involves music artists and labels submitting works to ?? for distribution to partner platforms, ensuring exposure and earnings based on performance metrics like streams or downloads. Revenue sharing is transparent, emphasizing collaboration among independent artists and established labels while catering to B2B partnerships and direct-to-consumer access.The company plans to leverage its recent funding from the Add-on round, which raised USD 20 mn, to enhance its product offerings and expand into new geographic markets. Strategies include designing new music management tools and establishing a presence in additional Asian markets by 2024. The funding will support development initiatives and intended market penetration, following the acquisition by Alibaba Group, which positions the company for further growth.

## Funding rounds

- Series A, Jun 1, 2008, $0.7M — Shenzhen Capital Real Estate Fund

## Investors

- Shenzhen Capital Real Estate Fund (https://capitalatlas.ai/funds/shenzhen-capital-real-estate-fund) — Series A