KKBOX is the largest online music platform in Taiwan market
On January 24, 2007, a Cayman-registered company Skysoft announced expanding its paid-in capital by USD 13 million.
Skysoft is the operator of the KKBOX website to offer online music streaming and download services in Taiwan. The company also announced that KKBOX has become the largest online music platform in Taiwan as it has more than 200 000 members.
Skysoft’s additional capital was invested by a Taiwan-based investment bank named the China Development Industrial Bank, and by three Japan-based companies – ORIX, Dwango and TransCosmos.
KKBOX has licensing from 111 publishers of music discs. By the end of this year, the website aims at increasing the number of its members up 350 000 – 400 000. Also, KKBOX intends to set up R&D subsidiaries as well as to cooperate with local producers of home-use digital devices to tap markets in China, Hong Kong, Japan and Singapore.