China based content aggregator Qutoutiao (QTT shares surged 150% on Friday in its debut as a public company on Nasdaq.

The company's business model is supported by advertisers and is currently only available in China. 

Qutoutiao will raise $84 million but CFO Jingo Wang said the IPO wasn't as much about raising money was it was about gaining brand recognition. 

Qutoutiao is backed by Tencent (TCEHY .