China’s largest news app Toutiao has reportedly acquired augmented reality-based selfie app Faceu for US$300 million, as the personalized recommendation news platform continues to expand its business scope. Toutiao, one of the highest valued Chinese tech company with a current valuation of US$20 billion, has been aggressively buying businesses around its core news recommendation app. In November, it invested US$50 million in Live.me, a popular live streaming platform among young adults in the U.S., and acquired China’s lip-syncing video app …

Toutiao Reportedly Buying Chinese AR Selfie App Faceu For $300M appeared first on China Money Network.