Machine Learning at it’s Finest
Toutiao is a Chinese app that is a news business that relies on machine learning to cater content to it’s audience. The mission is ‘building a news business from a pure technology perspective.
The app uses deep learning to monitor a reader’s habits then provides the user with topics that they may be interested in. The app pulls from 20k news outlets, social media, video sites, and 800,000 new media creators.
Last year it raised $1B at $11B valuation and this month, the company raised another $2B at $20B valuation! That’s some intense growth.
They currently have 120m daily users who stay on the app 70 mins a day. Having such a high user engagement leads to huge revenue. $900m in 2016 and 4 times what it made the year before.
Machine learning is the future and products that utilize this new technology will prosper.
Looking forward to the future, the possibilities are endless.