Ximalaya's main streams of revenue comprise subscription, advertising and livestreaming, which monetizes via sales of virtual gifts to users. In 2020, 43.3% of its total revenue came from membership subscriptions and paid services. Advertising and livestreaming made up 26.5% and 17.7% of its annual revenue, respectively.īut like many startups in the audio content market, Ximalaya is facing pressure to turn a profit - the company has consistently lost money since 2018. In the first quarter of 2021, Ximalaya's net loss reached $40.8 million, a slight dip from the $43.7 million net loss it booked in the same period last year. The company's total net loss in 2020 was $92.7 million, 21.8% less than its 2019 total loss. Ximalaya intends to use the funds raised in the IPO for R&D, content expansion, marketing and investments and acquisitions. In its prospectus, Ximalaya says it plans to devote 30% of the offering proceeds to developing and advancing new technologies and its AI and big data capabilities. These technologies are critical in gaining insights into user preferences and needs, and they are also important for achieving effective censorship of audio content. Another 25% of the proceeds will be spent on marketing and branding, and the rest for "strategic investments and acquisitions." Ximalaya says it intends to use another 25% of its proceeds to expand and enhance its content offerings, as well as "empowering" content producers, although the company doesn't clarify what empowering means in this context.
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