Apple launches four new iPhones, Motorola's flagship goes global, Huawei Mate 50 series arrives in China, and more.
Gaana, also backed by Times Internet, said in the email that talks with a potential acquirer had also "fallen through".
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The company is also expecting to start making profit in two years time, with strategy to expand content and enhance overseas customer base.
The feature will be automatically available for Gaana+ users on Android and iOS
YouTube Music starts journey in a market where less than 1 percent pay to listen to music. Besides, it will have to fight a dozen streaming apps who offer both free (with advertisements) and premium services.
Spotify will get a good number of users, especially for its basic music streaming service that comes free of cost (but with advertisements). But it is unlikely to convert users to its premium service and get them to pay for listening to music.
Gaana intends to use the capital to invest in technology to use artificial intelligence (AI) for personalising music experiences, to develop its subscription product for paying users, and develop aligned music experiences, the company said in a statement.
Handset maker Micromax is setting up a USD 75-million independent fund that will focus on investing in domestic and international consumer internet companies.
Under the deal, Gaana will be available on all Micromax smartphones, enabling users to seamlessly enjoy mobile music, a statement said.
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