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Tencent news aggregator app Kuai Bao to cease operations next month, as China’s Big Tech firms cut noncore businesses
- Subscribers will not be able to log on and use Kuai Bao from July 18, when it will be removed from domestic online app stores
- Launched in 2015, Kuai Bao has failed to grow big enough to remain competitive against rivals led by market leader Jinri Toutiao
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Tencent Holdings will terminate next month the operations of Kuai Bao, its news aggregator app, in a sign that even China’s most powerful and deep-pocketed Big Tech companies must cut noncore businesses amid ongoing regulatory pressure and the country’s flagging economic growth.
Subscribers will not be able to log on and use Kuai Bao from July 18, when it will be removed from domestic online app stores, according to a Kuai Bao statement last Friday. The existing Tencent News app will not be affected by that move, which was described as part of regular “business adjustments” by operator Tencent, which runs the world’s largest video gaming business by revenue and China’s biggest social media platform via super app WeChat.
Kuai Bao users are encouraged to take screenshots or save links to record their collection, historical data and the list of accounts they follow, according to the statement.
Similar to popular ByteDance-owned news aggregator app Jinri Toutiao, Kuai Bao provides users with algorithm-generated recommendations based on their profile, interests and browsing history. On Apple’s China App Store, Kuai Bao is described as having “interesting information that is personally made for you”.
Shenzhen-based Tencent did not immediately respond to a request for comment on Monday.
The decision on Kuai Bao’s fate came after Tencent restructured its news operations in May, changing the unit’s head and removing a handful of veteran editorial employees from their roles, according to an internal notice issued on May 23.
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