One of the most talked about startups in China Toutiao, a personalized news app, has pocketed $1 billion in a series D funding round from returning backer Sequoia Capital and CCB International, the investment arm of China Construction Bank, at a whopping $11 billion valuation, as per a report in Technode.
The startup’s valuation in the latest funding round, which took place at the end of last year, was reported to be 20 times higher than the $500 million valuation it touched by raising $100 million in the series C round more than two years ago.
