Jinri Toutiao, China’s biggest news aggregator is reportedly looking to raise USD 4 billion in its pre-IPO round, and are wooing leading investors like SBCVC, KKR, and Chunhua Capital.
The information platform app is valued at around USD 75 billion. Its revenues in 2018, tripling last year’s, have reached CNY 50 billion, 15 times larger than 2016.
The leading news and information distribution platform has 400 million domestic daily active users and 100 million overseas. It has also started its IPO preparation, aiming to be officially listed next year.
Source: Tencent Tech