Alibaba invests $171M in publicly traded Qutoutiao in the form of a convertible loan which would convert into a 4% stake in the Chinese news content aggregator (Rita Liao/TechCrunch)
Written by Mar 29, 2019, 12:35 pm
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Rita Liao / TechCrunch:
Alibaba invests $171M in publicly traded Qutoutiao in the form of a convertible loan which would convert into a 4% stake in the Chinese news content aggregator — The race to give Chinese users their daily dose of news intensifies as Qutoutiao, a rival to TikTok parent Bytedance, net an installment of sizable backing.
Source: Tech Meme
