Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Instagram Outage Disrupts Thousands of U.S. Users 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
Pocket FM, a trailblazing audio series app, is reportedly on the verge of a major financial breakthrough, according to three sources. The app is close to securing over $80 million in a new funding round, demonstrating its rapid growth and market potential. This funding round, led by Lightspeed, an existing investor, signifies a new high in the startup's journey.
Impressive Revenue Growth Spurs Investment Interest
The financial figures for Pocket FM are compelling. The app's annual recurring revenue (ARR) has reportedly exceeded $160 million, marking a six-to-seven-fold increase from the previous year. This impressive revenue surge has sparked significant interest from investors, with Lightspeed, a renowned investment giant, considering leading the round from both its India and U.S. branches. The discussions suggest a valuation of nearly $800 million for the Indian startup.
Innovative Business Model and User Engagement
Pocket FM's approach to content distribution is unique. Operating on a freemium model, it provides listeners with episodic storytelling, allowing them to access some content for free and pay for additional episodes. This strategy has been particularly successful since the company introduced a micro-transaction model earlier in 2022, where users can buy coins in local currency to unlock extra content.
Expanding Horizons and User Engagement
The startup's recent expansion into the U.S. market, coupled with its innovative pay-as-you-go offering, has contributed significantly to its growth. Pocket FM offers listeners the flexibility to enjoy free episodes every 24 hours, with the option to purchase more content as desired. This user-centric model has led to high engagement levels, with listeners reportedly spending over 110 minutes daily on the platform.
Continued Success and Future Prospects
To date, Pocket FM, which counts Tencent and Times Internet among its backers, has raised approximately $93 million. The app's success story is a testament to the growing popularity of audio content and the effectiveness of its business model. As it approaches this new funding milestone, Pocket FM is poised for further expansion and innovation in the audio content industry.
