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# Tencent Music Cuts IPO In Half [REPORT]
- URL: https://www.hypebot.com/tencent-music-cuts-ipo-in-half-report/
- Published: 2018-09-19T12:40:00.000Z
- Updated: 2018-09-19T12:40:00.000Z
- Description: Tencent Music Entertainment Group, China's most popular music streamer, now hopes to raise about $2 billion in a U.S. IPO, down from an original ask of $4 billion.
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Startups & Funding, Streaming, IPO, Spotify, Tencent Music, #wp, #wp-post, #Import 2026-01-21 10:00

[![image from entrackr.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad36c588a200c-200wi "image from entrackr.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad36c588a200c-popup?ref=hypebot.com)Tencent Music Entertainment Group, China's most popular music streamer, now hopes to raise about $2 billion in a U.S. IPO, down from an original ask of $4 billion.The music subsidiary of Chinese tech giant Tencent Holdings filed confidentially with the U.S. SEC earlier this month, three people with knowledge of the filing told [Reuters.](https://www.reuters.com/article/us-tencent-ipo-music/chinas-tencent-music-halves-u-s-ipo-to-2-billion-sources-idUSKCN1LZ0IZ?ref=hypebot.com)The Tencent pricing could have long term consequences for Spotify. In addition to setting investor expectations, Tencent and Spotify swapped shared late last year, leaving Tencent with a 7.5% stake in Spotify.