News Snapshot:
November 19, 2020 Tencent Music has made a “minority equity investment†in LA-based virtual-concert startup Wave. Tencent Music and Wave unveiled the investment and strategic partnership this afternoon, in a general release . Big-name backers including Scooter Braun , Alex Rodriguez, and Twitch cofounder Alex Lin participated in a $30 million Wave funding round over the summer. And upon announcing the multimillion-dollar investment, Wave indicated that it intended to expand into Asia (and particularly China and Japan) moving forward. Now, having organized over 50 virtual events – complete with animated stages, artist and crowd avatars, effects, and more – Wave...
