WHEN rumours swirled in August that Baidu, a Chinese online-search titan, was getting Toutiao, the scrappy news- gathering system apparently quipped in reaction that reports had actually misinterpreted the customer for the vendor. The company is happy with excellent factor. Toutiao’s development because its launch in 2012 has actually been outstanding: it claims it has actually currently attracted 700 m customers to the personal newsfeeds on its smart deviceapp Its appraisal has actually soared, to $22 bn in its most recent financing round (see graph).
Toutiao’s moms and dad business, Bytedance, is most definitely a customer currently. This month it purchased Musical.ly, a lip-syncing video clip system that has actually astounded American teenagers, for a reported $1bn. It appears like a excellent suit. Musical.ly, based in Shanghai, is the very first Chinese company to develop an app that has actually been so appreciated in the West; Bytedance, which has actually created innovative artificial-intelligence (AI) modern technology to tailor-make Toutiao’s newsfeeds, could give it with winning formulas.
Those formulas are … Continue analysis