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Tencent Leads $100m Pre-ipo Investment In News App Qutoutiao At Unicorn Valuation – China Money Network
Posted on: March 15, 2018, 7:11 a.m.
Tencent Holdings Ltd has led a pre-IPO investment of more than US$100 million in Chinese personalized news recommendation app Qutoutiao, valuing the start-up between US$1.3 billion to US$1.5 billion, according to local media. Qutoutiao, which means "happy headline" in English, is rumored to be seeking a U.S. initial public offering of up to US$3 billion as early as this year. Neither Tencent nor Qutoutiao responded immediately to China Money Network’s email seeking comments. The investment illustrates Tencent’s ambition to expand ... Full investment news articleRelevent to this post: China Venture Management Louisiana Economic Development,