Report: Investments In Himalaya Media Podcast Company Weren't What Company Initially Announced

Investments Questioned

The launch of new subscription-based podcast network HIMALAYA MEDIA was announced with a press release claiming that the service was backed by $100 million in investments raised from GENERAL ATLANTIC, SIG, and ASIA-based audio platform XIMALAYA FM (NET NEWS 2/6), but AXIOS is reporting that the investment claims may not have been accurate.

AXIOS' report asserts that GENERAL ATLANTIC "never invested in HIMALAYA MEDIA" but instead had invested in CHINA-based XIMALAYA FM, another listed partner that AXIOS says is HIMALAYA's majority owner. In addition, HIMALAYA CEO YU WANG told AXIOS that the $100 million was "a three-year commitment mostly from XIMALAYA FM, of which HIMALAYA so far has received only around $10 million."

The company, based in SAN FRANCISCO and headed by WANG, a former OTTO RADIO co-founder and CTO YU WANG, launched with the DALLAS MAVERICKS, DAN HARMON's STARBURNS INDUSTRIES, and STUDIO 71 among its initial partners. The network is offering promotion, marketing, and ad sales, partnered with ACAST and MEGAPHONE.

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