The news aggregation app, which was 47% owned by Phoenix New Media as of 2015, has received funding from backers including a government guidance fund.
Yidian Zixun, a China-based news aggregation platform backed by media company Phoenix New Media, has raised $112m from investors including government guidance fund Long De Cheng Zhang Culture Communication, China Money Network reported today.
The round, which also featured two unnamed participants, valued the company at $1bn. It was initially sized at $100m, according to local media reports last month that also described it as a series E round.
Founded in 2010, Yidian Zixun has built a personalised news app…
