Phoenix New Media has invested $57.6m in primary and secondary share purchases to hike its stake in the personalised news app to almost 47%.
Media company Phoenix New Media has agreed to pay $30m for a 21% stake in Particle , the China-based creator of personalised news app developer Yidian Zixun.
Phoenix, which is also known as Ifeng, will also pay a further $27.6m to buy 13.8% of Yidian’s shares from existing investors. The transactions, added to its existing investment in Yidian, will increase its overall share of the company to 46.9%.
Yidian is a mobile app that enables users to set parameters for…
