Qutoutiao Inc.-ADR

Qutoutiao Inc. is a Chinese media and entertainment company based in Shanghai that primarily operates as a mobile content aggregator. The firm’s name, which is also the name of its flagship mobile app, translates to ‘fun headlines’ in Chinese. The company operates as a platform that delivers customised news feeds full of articles and videos that users will enjoy based on advanced AI-based algorithms. The company was founded in 2016 and serves users across China, strategically targeting users in lower-tier cities who have fewer offline entertainment options. The application’s algorithm is based on user profiles, online behaviour, and social relationships. It uses machine learning to refine user feeds to be highly personalised to each customer. The firm also offers Midu, which was originally launched in 2018 as Midu Novels, providing free online literature to users. Midu Lite launched one year later. The firm’s apps are available free to users and supported by advertising. The apps also incorporate a read-to-earn model and gamified loyalty point system, allowing users to win points and even cash when they read certain stories. The firm is focused on developing other products including standalone short video applications. Qutoutiao Inc. trades on the NASDAQ under the stock ticker QTT. Follow QTT shares on eToro to track price movements.