Report: Sources Say ADIA, Capital of Abu Dhabi, Considering Investment in Pocket FM of India
![Pocket Fm](https://techgroundnews.com/wp-content/uploads/sites/4/2024/03/pocket-fm-768x500.jpg)
TechCrunch reported about Lightspeed Venture Partners engaging to invest in Pocket FM last year.
ADIA didn’t immediately respond to a request for comment, whereas Pocket FM said it refrains from commenting on market speculations.
Pocket FM operates on a freemium model, leveraging long-form episodic storytelling to give users the choice to pay only for content they prefer rather than the entire library.
The startup announced last month that it will invest $40 million to grow its online reading platform Pocket Novel.
More than 90,000 writers had signed up to the app in less than a month, Pocket FM co-founder Rohan Nayak wrote on LinkedIn this week.