Report: Flipagram Looking For Buyer

Los Angeles-based mobile app developer Flipagram is looking for a buyer, and may have found one, in Chinese news aggreagtor Toutiao, according to a report Thursday. Citing "multiple sources" close to the company, Recode said Flipagram is still discussing financial terms with Toutiao, but no deal has been signed. Flipagram is venture backed by Index Ventures, Kleiner Perkins Caufield and Byers, and Sequoia Capital, and raised a bit $70M funding round in 2015.