Tencent is in the advanced stages of talks to lead a round of investments in Gurgaon-headquartered Pocket FM, the latest in a push for the Chinese giant to expand its consumer internet portfolio in the Indian market.The Chinese company, which is already an investor in Pocket FM,
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is in talks to lead a $20-25 million round in Pocket FM, according to three people with knowledge of the matter. The proposed term values the three-year startup between $75 million and $100 million, the two said. Former investors in Times Internet's Brand Capital and Lightspeed also participated in the round.
The round has not closed, so conditions may change. Tencent and Pocket FM declined to comment.Pocket FM operates an app of the same name, which offers users podcasts and audiobooks in multiple English and Indian languages. On its website, the service states that the catalog has over 10,000 hours. The startup works with multiple creators to produce. audio book