Sequoia Co-Leads $1B Round In News App Toutiao, Minting China’s Biggest Media Company

Sequoia Capital and CCB International, an investment unit of China Construction Bank Co., have led a series D investment of around US$1 billion in Chinese personalized news recommendation app operator Toutiao. While exact figures are not yet available, the deal would make Toutiao China’s biggest media company in terms of valuation.

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