Chernin acquired a 51% stake in anti-PC sports media brand Barstool Sports, which is now valued at $100m, in 2016.

The photo, video and livestreaming platform is readying a $1bn round led by Tencent that will value it at $18bn in advance of a flotation later this year.

Video recipe platform developer Dely has secured just over $30m from SoftBank, Akatsuki, United and Yahoo Japan, taking its total funding past $60m.

Qihoo 360 Technology has joined forces with Beijing Cultural Center Fund to launch an investment fund aimed at internet and culture-focused companies.

MTG had bought a 75% stake in Trace in 2014 in a deal that valued the media network operator at $54.4m.

Tencent and Globe Telecom were among the investors in a round that reportedly values the publishing platform at almost $400m post-money.

The marketing technology producer will be a partner for MathCapital, a newly formed venture capital fund that will operate out of the corporate's head office.