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Abu Dhabi’s ADIA explores investment in India’s Pocket FM, sources say
Abu Dhabi's sovereign wealth fund ADIA is in talks to back Pocket FM in a large new round of funding, two sources familiar with the matter told ADIA's interest in Pocket FM follows the Indian startup recently securing about $100 million from Lightspeed Venture Partners.
The funding deliberations follow a fast-paced revenue growth at the Indian startup, which offers serialized fiction and non-fiction content spanning genres like romance, self-help and motivation. Pocket FM operates on a freemium model, leveraging long-form episodic storytelling to give users the choice to pay only for content they prefer rather than the entire library. Since early 2022, the platform has employed a micro-transaction model, enabling users to purchase coins in local currency to redeem for episodes beyond the free quota.
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