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Announced

Completed

Qutoutiao led a $110m Series C round in Midu Novels.

Financials

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Transaction Value£79m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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mobile literature

Domestic

Online and Social Platforms

Single Bidder

Majority

China

Private

Acquisition

Completed

Friendly

Synopsis

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Qutoutiao, an operator of mobile content platforms in China, led a $110m Series C round in Midu Novels, a free mobile literature app supported by advertising. The names of other the investors were not disclosed. With the latest vehicle, Midu will continue to develop original content in more interactive and entertaining formats.

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