China’s Toutiao acquires US VC-backed video app Flipagram
Chinese mobile news reading app Toutiao has acquired Flipagram, a US-based video sharing app backed by several VC investors, for an undisclosed amount.
Flipagram will operate as an independent subsidiary after the acquisition. The merger allows Toutiao to expand its global reach to the US, while Flipgram can get access to Toutiao’s recommendations system...
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