The online news sourcing app has raised $100m in a Sina Weibo-backed series C round, and plans to beef up its technology with the funds.
China-based online media company Toutiao has raised $100m in a series C round led by venture capital firm Sequoia Capital that also featured Sina Weibo, China Money Network reported on Tuesday.
Launched in 2012, Toutiao provides an online news service through an app that can learn users’ preferences for news stories and provide them with content accordingly.
The company will use the proceeds from the round, which valued it at $500m, to develop its technology base, particularly with regard to…
