Social-Media App Is Acquired for as Much as $1 Billion

Three years old and with 60 million users, an $800m-$1bn price tag is pretty good news for, which has struggled recently to surpass its association with American tweens. Still, it's one of the most successful apps for that generation, which is typically a tough target for the giants of Facebook and Google. What this means for Chinese news app Toutiao is interesting. They previously bought Flipagram with the intention of integrating videos into timelines, and intend to use the team similarly here, perhaps utilising the deals that made with American publishers clamouring to access their hard-to-reach audience.


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