(Yicai Global) Aug. 13 -- Chinese audio sharing platform Ximalaya FM has rebutted claims that it has secured a funding worth CNY4 billion (USD581 million).

Online media outlet IPO Zao Zhidao reported that Ximalaya has raised the considerable amount of money from internet giant Tencent Holdings and US investment bank Goldman Sachs, which would add to the podcaster's earlier valuation of CNY20 billion. The Shanghai-based company was also reportedly preparing for an initial public offering in 2019.

Ximalaya's Vice President Zhang Yong refuted this rumor to several media outlets.

Founded in 2012, Ximalaya has come to lead China's emerging podcasting scene with its 480 million users. Some of the earlier, confirmed investors include smartphone maker Xiaomi, e-commerce giant JD.Com's financial arm JD Finance, and online books provider China Literature.

Editor: Emmi Laine