How ICO works with Cryptocurrency exchages?

[0xBountyManager]

how ICO raised funds are used in multiple exchange sites,

Steps:
-->  1. ICO fund raised
-->  2. priceless tokens distributed to buyers and supporters 
-->  3. All Raised funds are given to the exchange sites to operate token exchange

then,
how multiple site listing works? do they distribute partial raised funds to exchange sites?

[xIIImaL]

how ICO raised funds are used in multiple exchange sites,

Steps:
-->  1. ICO fund raised
-->  2. priceless tokens distributed to buyers and supporters 
-->  3. All Raised funds are given to the exchange sites to operate token exchange

then,
how multiple site listing works? do they distribute partial raised funds to exchange sites?

These things that followed in the exchange before they list one project. If all project passed in these things they are set to list the tokens in exchange then mate.

Some of exchanges looking to learn that whether they get the more voting or not. So far this is the main thing followed in kucoin and mercatox exchanges follows to list it.

[batang_bitcoin]

I don't think that's the simple step on how ICO funds are used in different exchanges.

how multiple site listing works?

Depends on the exchange, new ones will do it for free but the existing ones they have to pay for a fee.

do they distribute partial raised funds to exchange sites?

I don't think they do, they only pay for the fee.

[0xBountyManager]

mean only a portion is given to exchanges for listing... like hitbtc is charging 42BTC to listing.. then how the per token price is decided if funds are not in circulation.

[Zadicar]

then,
how multiple site listing works? do they distribute partial raised funds to exchange sites?

Just put up into your mind that not all exchange do require listing fee example. Bittrex. They don't charge anything as long they would able to see on your projects potential and really doing well in the market then most probably you would really be listed without any corresponding fee but though there are exchangers who do have listing fees and its normal they would really used that money since they do know the possibility advantage that they would get on being listed on multiple exchangers.

[batang_bitcoin]

mean only a portion is given to exchanges for listing... like hitbtc is charging 42BTC to listing.. then how the per token price is decided if funds are not in circulation.

I think that there's some sort of vault where it indicates the market cap of that coin.

Exchanges aren't responsible for holding the total market cap of that coin but it sums up each of them on how much is the volume of that coin per exchange if there's variety where they are listed but if not I guess the developers itself identifies it's total market cap.

[Tamilson]

how ICO raised funds are used in multiple exchange sites,

then,
how multiple site listing works? do they distribute partial raised funds to exchange sites?

As far as I know there's an allocated fund for listing to exchange sites as they know that there's always a fee. However, listing in decentralized exchange doesn't require a fee or maybe there's a little and actually even unbeknownst to the team the coin can be listed there without their approval.

Exchanges aren't responsible for holding the total market cap of that coin but it sums up each of them on how much is the volume of that coin per exchange if there's variety where they are listed but if not I guess the developers itself identifies it's total market cap.

Marketcap is indicated by the price of the coin plus then multiply the total share price. Which that means the higher the marketcap many investors had put their trust on that certain coin.