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Sequoia leads $100m financing round for Chinese storytelling app

Kuaidian CEO says short-form videos most effective in attracting paying users

Kuaidian was launched in 2017 as a dialogue-based storytelling platform in China. It later enabled user-generated content and dubbing for novels, posting and friending, as well as hashtag creation. (Screenshot from Kuaidian website) 

HONG KONG -- Kuaidian, a Chinese storytelling mobile app that offers an immersive experience through a dialogue-based text-message reading format, has closed nearly $100 million in a Series C round of financing led by Sequoia Capital China.

The Series C round, which was oversubscribed, saw the participation of Kuaidian's existing shareholders including global venture capital company GGV Capital, Chinese early-stage venture capital fund Morningside Venture Capital and other investors, according to a statement on Tuesday.

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