Because the time has soared to unprecedented heights of success, there was a substantial surge within the quick video-sharing platforms.

In a single such occasion, , a Chinese language information aggregator which is understood for its gossipy information and viral movies is spending hundreds of thousands of {dollars} to tackle TikTok and different related apps. In Chinese language languages, the Qutoutiao is pronounced as “chew-tow-ti-ow” and means “enjoyable headlines.”

Qutoutiao got here into gentle in 2016 and was principally surviving on click on baits. To make itself extra well-known among the many plenty, the app was eyeing to retain an increasing number of prospects and for that, the temptation of money rewards was a should.

Because of the much-needed funding, Qutoutiao was capable of safe $242 million funding from buyers together with . Later the corporate pushed for $84 million preliminary public choices within the U.S. Until date, Qutoutiao has bagged $326 million in fundings.

The secured funds have been instantly directed to assemble methods concerning customers acquisition and retention.

Within the final quarter, the gross sales and advertising and marketing bills of Qutoutiao jumped to $200 million, which is a leap of over 450 %. However on the identical time, the corporate additionally witnessed a considerable lack of $283 million, which was $14.3 million a yr in the past.

The intense spot in the way forward for Qutoutiao app was seen in  $440 million income in 2018, which climbed to 484 %.

All this gamble to mark its presence within the video-sharing area appears to repay. After infusing million to earn customers, there was an addition of 93.8 million within the month-to-month lively customers within the final three months of the final yr.

Concerning the time spent on the app, there was a leap of over one hundred pc, as individuals spent 63 minutes on the app in comparison with half-hour within the year-earlier interval.

Different related platforms embrace ’s Jinri Toutiao, which has over 2.4 billion month-to-month person base. Even Tencent tried its hand within the short-video providers, and the studies of a continues to be ripe out there.