The Information website quoted the source said, the valuation of $20 billion headlines today, last year tried to acquire the U.S. social news website Reddit. This news has never been exposed before, indicating that today's headlines hope to develop into a global media giant.
According to sources, today's headlines failed to reach an agreement with Reddit shareholders, including Conde Nast. One reason is that investors generally feel uneasy about selling Reddit to a China Internet Corporation, because the Chinese company's users and revenue data are difficult to assess. Another source said that another difference lies in the price. Today's headlines put forward the use of corporate stock to buy, but for outsiders, it is difficult to accurately estimate today's headlines.
Reddit is approaching profitability. Earlier this year, the company completed $200 million in financing, valued at $8 billion 100 million. Reddit's investments include Sequoia Capital, echo capital and fidelity investments.
In addition, today's headlines management team has been studying the American market, and try to establish contact with the American media company. The top two sources, today's headlines last year Zhang Yiming worked with BuzzFeed CEO and CEO
Today's headlines provide all kinds of headlines
In the recent financing, the valuation of Beijing byte hop Technology Co., Ltd., the owner of today's headlines, rose to about $20 billion, including the investment sectors of Sequoia China and construction bank. The company executives say most of the revenue comes from advertising, and this year's revenue target is $2 billion 500 million.
The headlines today are still actively looking for American partners, as well as opportunities to invest in acquisitions, the news said. Earlier this year, the company bought Flipagram, a social video app in Losangeles. Last year, today's headlines also invested in a news syndication company in India.
Today's headlines use algorithms to provide users with customized articles and videos. Zhang Yiming and senior vice president Liu Zhen dominate the negotiation of these transactions, and the object of the negotiations, the headlines of today's artificial intelligence and advertising engine can help them earn more money.
Today's headlines have been expanding other products other than the headline client. For example, the company is also running an English news push app called TopBuzz. In September, the company announced plans to bring music, video and social networking applications Tik Tok to other Asian markets outside Indonesia and china.