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) .

 

More from Video

Jim Cramer's 10 Lessons for a Bear Market

Jim Cramer's 10 Lessons for a Bear Market

Does Davos Matter Anymore? Why Jim Cramer Says It Will Play Less of a Role

Does Davos Matter Anymore? Why Jim Cramer Says It Will Play Less of a Role

In Case You Missed it: Stocks Face Headwinds Times 10, IBM Earnings

In Case You Missed it: Stocks Face Headwinds Times 10, IBM Earnings

Hey Millennials, Need Some Investing Advice?

Hey Millennials, Need Some Investing Advice?

The Immigration Debate Takes a World Stage at Davos

The Immigration Debate Takes a World Stage at Davos