The Tencent and Xiaomi-backed news aggregation platform was founded two years ago but was reportedly valued at $1.6bn in March.
China-based news aggregation platform Qutoutiao filed on Friday for a $300m initial public offering on the Nasdaq Global Market that will allow internet group Tencent to exit.
Founded in 2016, Qutoutiao operates a mobile app that aggregates news content according to a user’s personal tastes, focusing on a fun, light-hearted approach. It has 17.1 million daily active users and is the second most popular such platform in China, after Toutiao.
The company made a $77.7m net loss in the…
