News Snapshot:
“Kuaikan, a comics app backed by Tencent, has raised US$240 million in a new funding round that elevated it to unicorn status, giving the company a boost as competition in China’s online entertainment arena intensifies,” Bloomberg reported. Details: Existing investors, including Tencent and Coatue Management, took part in Kuaikan’s latest funding round, alongside CCB International and One Store, a South Korean marketplace for apps. The fresh financing round reportedly lifts the comic book app’s valuation to US$1.25 billion. Dive deeper: Founded in 2014, Kuaikan said that the platform has was currently seeing about 50 million monthly active users, up from...
