China's Qutoutiao spending millions to take on TikTok parent

Chinese mobile content aggregator Qutoutiao is spending millions of dollars to take on TikTok parent ByteDance. Qutoutiao recorded sales and marketing expenses of around $200 million in the fourth quarter of 2018, up nearly 463% from the same quarter in 2017. Its average monthly active users reached 93.8 million in the period, up 43.8% from the previous quarter.