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China's Qutoutiao is burning millions of dollars to take on TikTok parent

Rita Liao
Updated
China's Qutoutiao is burning millions of dollars to take on TikTok parent

Chinese startup ByteDance is finding itself surrounded by challengers as its empire of new media products, including global video app TikTok and Chinese news aggregator Jinri Toutiao, gather steam. Tencent tried to play catch-up with a handful of new short-video services, and a Facebook clone of TikTok was reportedly in the making. Like ByteDance, the Shanghai-based company began as a news aggregator banking on personalized content often characterized by gossipy news and viral videos.

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