Chinese mobile content platform Qutoutiao announced that its online reading platforms Midu Novels and Midu Novels Lite have completed a $100 million round of financing led by CMC Capital.
During the third conference of online literature in Beijing from Aug. 9 to 11, the AI translation system of funstory.ai took the breaths of foreign readers away with its capabilities of monitoring, capturing, translating and publishing copyrighted Chinese novels.
The term “Wang Wen”, literally translated from Chinese as internet literature, was once specifically used to describe low quality writing. In most people’s eyes, it was fast food content with cheap plots and stereotypical characters.
On May 17, 2019, LinkSure Literature announced the acquisition of the mobile comic app Manman. The company is positioning itself to develop new comic IPs based on popular online literature from its reading platform.