Qutoutiao announced its results for the fourth quarter ended December 31, 2021. The financial report shows that in 2021, Qutoutiao’s annual revenue was 4.340 billion yuan, and the fourth-quarter revenue reached 881 million yuan. The fourth-quarter loss narrowed by 48.94% from the third quarter.
A few days ago, Qutoutiao issued a notice announcing that it will adjust its business and stop the service and maintenance of the self-media creation platform on June 30.
The Qutoutiao app was launched in June 2016, and in September 2018, Qutoutiao went public in the United States. When it went online, Qutoutiao positioned itself as a “we-media content platform that relies on differentiated positioning, unique customer acquisition mechanism, and rapid development”.
The closure of the self-media platform business this time means that, as a content aggregation platform with third-party creator content as the core, Qutoutiao will “stop serving” third-party creators.
until now,Qutoutiao’s share price is $1.01, and its market value is only $30.6 million, down 99% from its listing.
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