China’s new tech force Pinduoduo is continuing its race to upend the ecommerce space, even at the expense of its finances. The three-year-old startup earmarked some big wins from the 2018 fiscal year, but losses were even greater, dragging its shares down 17 percent on Wednesday after the firm released its latest earnings results. The […]
View More Surging costs send shares of ecommerce challenger Pinduoduo down 17 percentCategory: Qutoutiao
China’s Qutoutiao is burning millions of dollars to take on TikTok parent
Chinese startup Bytedance is finding itself surrounded by challengers as its empire of new media products, including global video app TikTok and Chinese news aggregator Jinri Toutiao, gather steam. Tencent tried to play catch-up with a handful of new short-video services, and a Facebook clone of TikTok was reportedly in the making. Less famous players also […]
View More China’s Qutoutiao is burning millions of dollars to take on TikTok parentA Chinese ecommerce app that lures grocery shoppers with cash just raised $100M in Series B
There is no shortage of up-and-comers jostling for a spot in China’s massive ecommerce industry, and oftentimes they pick a niche market and present a novel business model different from the establishment of Alibaba or JD.com . Chinese social ecommerce app Fresh Buddy announced on Tuesday that it has raised $100 million in a series B funding […]
View More A Chinese ecommerce app that lures grocery shoppers with cash just raised $100M in Series BTencent-backed news aggregation app Qutoutiao files for U.S. public offering
Qutoutiao, a news aggregator app backed by Tencent, has filed for an initial public offering of up to $300 million in the United States. In its F-1 form, the company, whose name means “fun headlines,” said it is the number two mobile content aggregator in China. Its main rivals are Jinri Toutiao, China’s top news […]
View More Tencent-backed news aggregation app Qutoutiao files for U.S. public offering