News

Qutoutiao App Adding More Firepower To Its Arsenal To Challenge TikTok

Qutoutiao secured $242 million in funding to gain added user base.

Qutoutiao App Adding More Firepower To Its Arsenal To Challenge TikTok

Since the time TikTok app has soared to unprecedented heights of success, there has been a considerable surge in the short video-sharing platforms.

In one such instance, Qutoutiao App, a Chinese news aggregator which is known for its gossipy news and viral videos is spending millions of dollars to take on TikTok and other similar apps. In Chinese languages, the Qutoutiao is pronounced as “chew-tow-ti-ow” and means “fun headlines.”

Qutoutiao came into light in 2016 and was mostly surviving on click baits. To make itself more famous among the masses, the app was eyeing to retain more and more customers and for that, the temptation of cash rewards was a must.

Thanks to the much-needed funding, Qutoutiao was able to secure $242 million funding from investors including Tencent. Later the company pushed for $84 million initial public offerings in the U.S. Till date, Qutoutiao has bagged $326 million in fundings.

The secured funds were immediately directed to construct strategies regarding users acquisition and retention.

In the last quarter, the sales and marketing expenses of Qutoutiao jumped to $200 million, which is a jump of over 450 percent. But at the same time, the company also witnessed a substantial loss of $283 million, which was $14.3 million a year ago.

Qutoutiao App

The bright spot in the future of Qutoutiao app was seen in  $440 million revenue in 2018, which climbed to 484 percent.

All this gamble to mark its presence in the video-sharing domain seems to pay off. After infusing million to earn users, there was an addition of 93.8 million in the monthly active users in the last three months of the last year.

Regarding the time spent on the app, there was a jump of over 100 percent, as people spent 63 minutes on the app compared to 30 minutes in the year-earlier period.

Other similar platforms include Bytedance’s Jinri Toutiao, which has over 2.4 billion monthly user base. Even Tencent tried its hand in the short-video services, and the reports of a Facebook clone of TikTok is still ripe in the market.

Arpit Dubey
Written By
Arpit Dubey

Arpit is a dreamer, wanderer, and a tech nerd who loves to jot down tech musings and updates. With a logician mind, he is always chasing sunrises and tech advancements while secretly preparing for the robot uprising.

Think Your Professional Journey
Deserves A Spot In Our 40 Under 40 Report?

Latest Blogs

News

You May Soon Be Able To Play Games On LinkedIn. But Why?

4 min read  

What do you go to LinkedIn for? Till now, the 8 billion users LinkedIn has gained use it for finding jobs, strengthening professional networks, and finding clients. Multiple app researchers have recently identified codes indicating a potential gaming platform built on the social media app.The Mi

News

Apple Buys Darwin AI To Rival Google, Microsoft & OpenAI

4 min read  

Apple has been evidently silent about its AI developments in the last two years. But, its actions related to building the AI capabilities have always found a way into the limelight. In recent times, Apple bought an AI startup that was leading the space of making AI tools smaller and more compact. Af

News

Devin AI Chatbot Poses Great Threat To The Developer Community

4 min read  

Generative AI has disrupted the software development industry on the surface, but it is yet far from taking over their jobs. But, with Cognition AI’s latest Devin chatbot, things might change for the developer’s worse. Devin AI is a powerful coding assistant that can manage the entire so

News

CERT-In Finds Severe Security Issues In Google Chrome For Web

4 min read  

Google Chrome is the go-to web browser for 3.46 billion users worldwide. In India, the number has gone up to 692 million monthly active users. The Indian government’s Computer Emergency Response Team has released a new security issue with a high to severe rating for all Google Chrome desktop b

Featured Interviews

Interview

Interview With Coyote Jackson, Director of Product Management, PubNub

MobileAppDaily had a word with Coyote Jackson, Director of Product Management, PubNub. We spoke to him about his journey in the global Data Stream Network and real-time infrastructure-as-a-service company. Learn more about him.

MAD Team 4 min read  
Interview

Interview With Laetitia Gazel Anthoine, Founder and CEO, Connecthings

MobileAppDaily had a word with Laetitia Gazel Anthoine, Founder and CEO, Connecthings. We spoke to her about her idea behind Connecthings and thoughts about the company’s services.

MAD Team 4 min read  
Interview

Interview With Gregg Temperley, Founder Of ParcelBroker App

MobileAppDaily had a word with Gregg Temperley, Founder. We spoke to him about his idea behind such an excellent app and his whole journey during the development process.

MAD Team 4 min read  
Interview

Interview With George Deglin, CEO Of OneSignal

MobileAppDaily had a word with George Deglin, the CEO and co-founder of OneSignal, a leading customer messaging and engagement solution, we learn multiple facets related to customer engagement, personalization, and the future of mobile marketing.

MAD Team 4 min read