ByteDance

China’s Toutiao, also known as ByteDance, is raising between US$2.5 and 3 billion at a valuation of between $4.5 and 5 billion, sources told local Chinese media, in a round that leads up to a ru

This will pit Alibaba against Tencent, which backs Kuaishou, in the short-video war

The Beijing-based company has rolled out a dedicated learning app dubbed Haohao Xuexi to tap into China’s lucrative paid content market. 

All you need to know about what happened in the tech world today.

All you need to know about what happened in the tech world today.

In 2017, the market for paid content in China has reached $738.9 million and is expected to grow to $3.5 billion by 2020.

Bytedance’s overseas-oriented products, including Tik Tok and Musical.ly, have, to date, raked in more than 100 million of monthly active users.

Valued at USD35 billion excluding Douyin’s valuation, Toutiao is also raising a round and is seeking funds from KKR and Jack Ma-backed Yunfeng Capital.