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China news start-up valued at $20bn

  • 作者:Ella Cai
  • 发布时间::2017-08-14
One of the fastest growing start-ups in the world is five year-old Chinese news aggregator Toutiao which has grown its valuation 40x in three years.

In a 2014 funding round it was valued at $500 million, last year it raised $1 billion at a valuation of $11 billion and now it is reported by Reuters to be about to raise $2 billion at a valuation of $20 billion.

Sequoia is one of the backers. The founder is 34 year-old Zhang Yiming.

Toutiao uses AI techniques tom customise content for its 175 million user. It competes with similar services from TenCent and Baidu,

The name Toutiao means ‘headlines’.