Funding round
Toutiao Series D
Toutiao, which works in digital media content distribution in Beijing, raised $1.00B in a Series D round announced on 7 Apr 2017, at a $11.00B post-money valuation. 2 firms took part, 2 of them already investors.
$1.00B
Amount raised
$11.00B
Post-money valuation
$10.00B pre-money
2
Investors
no lead named
9.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Toutiao at $11.00B after the new money. The $1.00B bought investors about 9.1% of the company. It is Toutiao's first venture round on record, 5 years after it was founded in 2012. No later venture round is on record for Toutiao.
Toutiao's funding rounds
This is the only venture round on record for Toutiao.
- Series D this round 7 Apr 2017 $1.00B$11.00B post-money
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- Sequoia Capital backs 589 venture-backed companies existing investor
- backs 5 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
56 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 25 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Apr 2017 | $85M | $1.80B | Collaborative Fund and Y Combinator |
| Tech Companies | 15 Mar 2017 | $45M | not disclosed | Sorenson Capital |
| Tech Companies | 30 May 2017 | $24M | not disclosed | not named |
| Tech Companies | 1 May 2017 | $20M | not disclosed | Singtel Innov8 and SAP National Security Services |
| Tech Companies | 24 May 2017 | $17M | not disclosed | Enern and Target Global |
| Addepar Tech Companies | 8 Jun 2017 | $140M | not disclosed | Valor and 8VC |
| Illumio Tech Companies | 7 Jun 2017 | $125M | not disclosed | J.P. Morgan Asset Management |
| Tech Companies | 21 Jun 2017 | $100M | not disclosed | SoftBank |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Toutiao raise in its Series D round?
Toutiao raised $1.00B in its Series D round, announced in Apr 2017.
Which investors took part in Toutiao's Series D round?
Sequoia Capital and China Construction Bank International.
What was Toutiao's valuation at the Series D round?
$11.00B post-money ($10.00B pre-money).
How does it compare with other Series D rounds in Tech Companies?
56 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 25 times the median.