Watching a stern Mark Zuckerberg testify in U.S. congress is a reminder how China’s tech companies, despite differences in economic structure and technological sophistication, follow similar trajectories with their American counterparts. Toutiao, China’s biggest personalized news app with a US$20 billion valuation, is experiencing a similar crisis these days as government and competitors attack its core business model. Operated by Beijing Bytedance Telecommunications Co., Ltd., Toutiao has been the darling of investors and the public alike. It ranks eighth on …

China’s $20B News Leader Toutiao Under Siege By Government and Rivals appeared first on China Money Network.