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Latest news and updates on Kuaishou. Founded in 2012 as a site to share gifs, Kuaishou is now one of the leading short-video platforms. With almost 300 million daily active users as of January 2020, Kuaishou is trying to turn a profit with livestreaming e-commerce.
As many of the country’s tech founders hand over the reins, it’s worth remembering that once start-ups grow to a certain size they need professional managers to take over.
Chinese initial public offerings are proving irresistible, powering the Hong Kong and Shanghai bourses as the United States turns hostile to mainland companies.
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Dongfangzhenxuan, a live-streaming brand under former tutoring giant New Oriental, sold US$13 million worth of goods within 12 hours of its debut on the platform, it said.
The Chinese food delivery giant says its adjusted net profit in the second quarter more than tripled from a year ago.
Chinese technology companies got back on track for growth in the second quarter, as they continue to pin high hopes on generative artificial intelligence (AI) amid uncertainties in the macro environment.
The search engine giant is riding on a recovery in advertising and consumer spending from the Covid-19 pandemic era.
Local services offer a new source of growth for Chinese tech companies as some of their bread-and-butter businesses have plateaued.
The reinvigorated state of the tech sector is reflected in the recruitment efforts of several large firms, including Alibaba, ByteDance and Meituan.
Kuaishou, Douyin and WeChat’s Channels are increasingly attractive platforms for influencers and advertisers amid growing popularity.
A number of Chinese tech companies are now pushing generative artificial intelligence technology to create more cost-effective virtual live-streaming hosts capable of round-the-clock sessions.
Meituan co-founder Wang Huiwen’s resignation marks one of the latest in a series of senior executive reshuffles at China’s Big Tech companies.
The executive shuffle is expected to bring greater synergies between Tencent’s video gaming and live-streaming businesses.
The annual ceremony’s cancellation appears to reflect Alibaba’s current focus on a sweeping reorganisation of its US$257 billion tech empire.
Kuaishou’s latest financial results were primarily lifted by better-than expected revenue from its online marketing services, live streaming and e-commerce operations.
The Chinese social media giant is seeking to boost the amount of quality content on WeChat, banking on the rapid growth of Channels to compete against ByteDance and Kuaishou.
The country’s top internet regulator pledges to harness video content to target China’s youth with ‘political education’.
The Chinese short-video platform operator has applied to trade its shares on the Hong Kong stock exchange’s upcoming dual-currency counter through which investors will be able to buy stocks in either the local dollar or the yuan.
Job cuts at Pakistan-based e-commerce firm Daraz follow a workforce reduction of more than 15,000 at parent Alibaba in the first nine months of 2022.
New Oriental’s education technology subsidiary Koolearn saw a 260 per cent year-on-year jump in revenue between June and November, with sales from live-streaming e-commerce contributing over 85 per cent.
Short video has quickly emerged as the second most popular choice for blue collar workers to find jobs in China, with a share of 17.7 per cent, according to survey.
The plan’s emphasis on the internet sector shows that Chinese policymakers recognise the role of the digital industry in boosting consumer spending, analysts say.
ByteDance-owned Douyin’s series of concerts this summer marked its increased effort to attract more users on the mainland against rivals WeChat and Kuaishou.
China’s short video apps have been winners over the past six months, with 28 million new users added since December, according to a survey by the China Internet Network Information Center.
Kuaishou’s sharpened focus overseas reflects the urgency among Chinese online platform operators to pursue new growth initiatives outside their home market.
StreamLake is the first enterprise-facing product from Kuaishou, which hopes to break even this year after facing mounting regulatory pressure and a plummeting stock price.
Tencent is speeding up efforts to make money from Channels after reporting almost no revenue growth in the first quarter of 2022.
As Beijing’s tough stance on online credit persuaded Big Tech firms to scale back their services, smaller platforms have proliferated, luring young consumers into borrowing for a lifestyle they can ill afford.
Live-streaming recruitment, in which agents introduce job openings to viewers and send links for them to apply, has gained popularity, especially among blue-collar workers.
Vue Vlog, which was fully acquired by Tencent two years ago, said it will cease operations on September 30.
In a fierce battle for viewers, Kuaishou, Douyin and WeChat’s Channels platform are making use of star power including Chan, Backstreet Boys, Jay Chou and Andy Lau.
Brands say they are trying to leverage WeChat’s vast user base and social features to reach untapped customers and boost loyalty, as a slowing economy hurts consumer spending.
