[Update] (Shortly after announcement of the funding news, Toutiao is questioned by traditional media for copyright infringement issues. The XML contents will then presented to the readers in the news interface of Toutiao App. Sequoia Capital is bullish on the mobile news app sector and the technology of Toutiao, according to Neil Shen, founding partner of the investor. The app registered more than 120 million users with over 40 million daily active users, according to data released by the company. Local news magazine ZAKER claimed more than 40 million downloads, while an another similar app Xianguo claimed 5 million users.