Tencent-backed Chinese news app Qutoutiao gets money line from Alibaba

Tencent-backed Chinese news app Qutoutiao gets money line from Alibaba

Photographer: Gilles Sabrie/Bloomberg

Qutoutiao Inc., the Chinese news and video aggregation app backed by Tencent Holdings Ltd., just obtained a money line from Alibaba Group Holding Ltd. as it continues a spending spree to vie for users and their time spent on smartphones.

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