News Snapshot:
Kuaikan World (Beijing) Technology , the comics app operator backed by Tencent Holdings , has raised US$240 million in a new funding round that elevated it to unicorn status, giving the start-up a boost as competition in China’s online entertainment arena intensifies. The investment is the largest fundraising deal in China’s comics industry, with participation from CCB International, South Korean app marketplace One Store and existing backers like Tencent and Coatue Management, the Beijing-based start-up said in a statement on Monday. The Series F round was conducted at a valuation of around US$1.25 billion, according to a person familiar with...
