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Tag: Toutiao

Toutiao, a Chinese news app that’s making headlines

Toutiao, a Chinese news app that’s making headlines

Finance
WHEN rumours swirled in August that Baidu, a Chinese online-search giant, was buying Toutiao, the scrappy news-aggregation platform reportedly quipped in response that reports had mistaken the buyer for the seller. The firm is proud with good reason. Toutiao’s growth since its launch in 2012 has been stellar: it says it has already drawn 700m users to the personalised newsfeeds on its smartphone app. Its valuation has shot up, to $ 22bn in its latest funding round (see chart).Upgrade your inboxReceive our Daily Dispatch and Editors' Picks newsletters.Toutiao’s parent company, Bytedance, is definitely a buyer now. This month it snapped up Musical.ly, a lip-syncing video platform that has captivated American teens, for a reported $ 1bn. It looks like a good match. Musical.ly, based in Shangh...