An investor that Himalaya Media, a San Francisco-based podcast platform backed by Chinese audio service platform Ximalaya FM, said contributed to its $100 million venture capital funding has denied participation in the deal, according to an Axios report on Wednesday.

Why it matters: The deal, which was announced in February, was considered to be Shanghai-based Ximalaya FM’s first international push, though the two firms say that they are operated separately.

Ximalaya FM was valued at RMB 24 billion (around $3.4 billion) after receiving an RMB 4 billion funding from Tencent and General Atlantic in August 2018.

In February, Himalaya announced that it had raised $100 million from General Atlantic, SIG, and Ximalaya FM.

Details: General Atlantic said it never invested in the US podcasting startup, according to a company spokesperson cited by Axios.

Himalaya CEO Yu Wang said that General Atlantic didn’t directly invest in the company and the $100 million was a three-year commitment mostly from Ximalaya FM, of which Himalaya has received only around $10 million to date, said the report.

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