ADIA

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.