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  "documentTitle": "Qutoutiao, Inc. (QTT)",
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      "text": "Setting aside that we disagree with QTT on the business discussion around Dianguan, we again find ourselves focusing on what QTT didn’t respond to and doesn’t seem to want to discuss: Dianguan was an undisclosed related party transaction.",
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      "text": "September 2017: Dianguan's domain name was created by Innotech, Ltd. October 2017: Dianguan is incorporated. October 2017 to February 2018: QTT is the only customer of Dianguan. February 2018: QTT acquires Dianguan from Liang Xiang for RMB 15 million.",
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      "text": "is owned by QTT's CEO Eric Tan, solidifying our belief that the acquisition of Dianguan was a self-dealing transaction.",
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      "text": "This was why in February 2018 we made the decision to acquire Dianguan which then became our in-house advertising platform. At the time of this acquisition, Dianguan had built up a good technical base as it owned several intellectual properties...",
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      "text": "This was why in February 2018 we made the decision to acquire Dianguan which then became our in-house advertising platform. At the time of this acquisition, Dianguan had built up a good technical base as it owned several intellectual properties, which were valuable assets for us to further develop our proprietary advertising platform related technology. The acquisition decision was made after thorough due diligence, the purchase consideration of RMB15 million was supported by a valuation report. — QTT",
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      "kind": "source-note",
      "text": "10 Domaintools WhoIs History Report for \"adv.aiclk.com\" 11 In fact, in its 2018 20-F, QTT claimed that Dianguan accounted for more revenues in 2017 than Dianguan reported in its 2017 SAIC filings.",
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