^ "China's communist authorities are tightening their grip on the private sector".^ "Billionaire Who Missed Out on TikTok Is Trying to Beat It".^ "One of China's hottest video apps is flirting with video gaming".^ "Tencent-backed Kwai App ranked Most Popular social short video app"."Tencent-backed Video App Kuaishou Is Turning Chinese Country Folk Into Hollywood Directors".
^ "Is short-video start-up Kuaishou too 'Zen' for China's internet culture?". "Tencent-backed Video App Kuaishou Is Turning Chinese Country Folk Into Hollywood Directors Synced". List of content platforms by monthly active users. Unlike Douyin, Kuaishou's algorithm rewards content creators boasting a highly engaged user base. Kuaishou also relies more on e-commerce revenue than on advertising revenue compared to its main competitor. Its initial popularity came from videos of Chinese rural life. Popularity Ĭompared to Douyin, Kuaishou is more popular with older users who live outside China's Tier 1 cities. In October 2022, state-owned Beijing Radio and Television Station took a minority ownership stake in Kuaishou. The reorganization was done to help Kuaishou cut costs and reverse losses. In December 2021, it was announced Kuaishou would lay off 30% of its staff, mainly mid-level employees with an annual salary of US$157,000 or more. Kuaishou was one of the companies worse-hit by the regulatory restrictions on Chinese internet companies and its share price fell nearly 80% from its highest point since going public. In February 2021, shares of Kuaishou rose 194% at the opening on its Hong Kong debut. Kuaishou's stock completed its first day of trading at $300 Hong Kong dollars (HKD) (US$38.70), more than doubling its initial offer price, and causing its market value to rise to over $1 trillion HKD (US$159 billion). In January 2021, Kuaishou announced it was planning an initial public offering (IPO) to raise approximately US$5 billion. The 2020 border tensions between India and China might have also played a role in the ban, there having been an increasingly political "Boycott China" movement in India due to the competitive relations between the two countries in recent years. In June 2020, the Government of India banned Kwai along with 58 other apps, citing "data and privacy issues". In 2019, the company announced a partnership with the People's Daily, an official newspaper of the Central Committee of the Chinese Communist Party, to help it experiment with the use of artificial intelligence in news. In April 2018, Kuaishou's app was briefly banned from Chinese app stores after China Central Television (CCTV) reported on the platform popularizing videos of teenage mothers. In January 2018, Forbes estimated the company's valuation to be US$18 billion. In March 2017, Kuaishou closed a US$350 million investment round that was led by Tencent. By 2019, it exceeded 200 million active daily users. By 2013, the app had reached 100 million daily users. In November 2012, Kuaishou became a short video community and a platform with which users could record and share videos. GIF Kuaishou was a mobile app with which users could make and share GIF pictures. Kuaishou's predecessor "GIF Kuaishou" was founded in March 2011. The company is headquartered in Haidian District, Beijing. Snack video tiktok software#
Prior to co-founding Kuaishou, Su Hua had worked for both Google and Baidu as a software engineer.
developed in 2011 by engineer Hua Su and Cheng Yixiao. Kuaishou is China's first short video platform. The China Internet Investment Fund, a state-owned enterprise controlled by the Cyberspace Administration of China, holds a partial ownership stake in Kuaishou.
Kuaishou's overseas team is led by the former CEO of the application 99, and staff from Google, Facebook, Netflix and TikTok were recruited to lead the company's international expansion. Its main competitor is Douyin, which is known as TikTok outside China. It is often referred to as "Kwai" in overseas markets. In Pakistan and Indonesia, this app is known as Snack Video.
The company is known for developing a mobile app for sharing users' short videos, a social network, and video special effects editor.Īs of 2019, it has a worldwide user base of over 200 million, leading the "Most Downloaded" lists of the Google Play and Apple App Store in eight countries, such as Brazil. 'quick hand') is a Chinese publicly traded partly state-owned holding company based in Haidian District (Beijing), founded in 2011 by Hua Su (宿华) and Cheng Yixiao (程一笑). US$ 9.1 billion (2020) Ĭhina Internet Investment Fund ( Cyberspace Administration of China)
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