Qutoutiao nets US$171 mn Alibaba injection

Chinese mobile content aggregator Qutoutiao announced it has received an investment from Alibaba in the form of US$171 million in convertible loans. The loans will be convertible into Qutoutiao Class A shares, at a rate equivalent to US$15 per American Depositary Shares. If fully converted, Qutoutiao will issue new shares to Alibaba representing about 4% […]