Tencent-Backed Personalized News App Qutoutiao’s IPO Downsized To $86M

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Chinese content aggregator Qutoutiao Inc, which is backed by the country’s technology giant Tencent Holdings Ltd, is seeking to raise US$84 million in an initial public offering (IPO) in the U.S., much less than the US$300 million the company initially planned to raise.

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