After deciding to invest in the company, Chen Yan began to meticulously examine the situation of the company.
The company was named Headline Technology, and their biggest project was the Headline app named after their company.
Since its establishment, the app had developed rapidly, and in just three years, it had already amassed tens of millions of daily active users. Moreover, the app had an explosive reputation and its traffic was highly sticky.
This time, they were raising funds not only to continue promoting this project but also to fund another app being developed by the group.
The other app was a short video app called Douyin.
The app had been online for less than six months, and, thanks to the traffic from the Headline app, its development wasn't slow.
Despite holding two major traffic-generating apps, the company still needed external funding to support it, as their profit model wasn't fully developed yet.
This was commonly referred to as burning cash.
