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Tencent leads $50M round in Indian news app

  • Tencent (OTCPK:TCEHY, OTCPK:TCTZF) leads a $50M Series C round in Chinese news app NewsDog, which is popular in India.
  • Other round participants: Danhua Capital, Legend Capital, and DotC United. 
  • The news aggregation company has over 50M users and is available in over 10 of India’s languages. 
  • Competitor: Bytedance’s Toutiao has 200M daily users in China and the parent company also owns Dailyhunt in India. Other competitors include Inshorts, NewsPoint, and a service from Alibaba’s (NYSE:BABA) UC Web.       
  • Previously: Tencent acquires majority stake in "Path of Exile" publisher (May 21)

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