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.

Alibaba invests 1M 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)
Source: Tech Meme