For many businesses in China, the opportunity to present themselves in front of millions of football fans will be a promising chance to promote their products and achieve some significant growths.
A recent update on its super app WeChat revealed Tencent’s ambition in advertising. On June 20, Tencent changed its WeChat official accounts updates to a feed.
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.