Kuaishou is an important part of Chinese social media giant Tencent’s strategy to compete against ByteDance who owns TikTok. FMTNews
HONG KONG: Chinese start-up Kuaishou is considering going public in the US to bankroll its expansion in short videos and fend off competition from TikTok owner ByteDance Inc, according to people familiar with the matter.
One person said Kuaishou also weighed the option of going public this year. The video startup is raising more than US$1 billion at a US$25 billion valuation in a pre-IPO round mostly from Tencent, one of the people said. Tencent has devoted a lot of resources toward building a library of short and mini video offerings – key to retaining user attention and boosting advertising revenue – but has yet to catch ByteDance.
Tencent President Martin Lau said during an August earnings call that short and mini videos would be a key vertical for expansion.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China, Malaysia to set up South China Sea dialogue mechanism | Malay MailBEIJING, Sept 12 — China and Malaysia have agreed to set up a joint dialogue mechanism for the disputed South China Sea, the Chinese government’s top diplomat said today after meeting Malaysia’s foreign minister. Recent Chinese naval deployments in the strategic waterway, through which more...
Read more »
South China Sea dialogue mechanism set up with ChinaChinese diplomat Wang Yi voices commitment to jointly safeguarding peace and stability in the South China Sea. FMTNews
Read more »
US delays tariff hike on China goods in ‘goodwill’ gesture | The Malaysian InsightUS delays tariff hike on China goods in ‘goodwill’ gesture
Read more »
White House adviser plays down expectations for US-China talksThe tariffs are the US’ best defence against China’s economic aggression, says Peter Navarro. FMTNews
Read more »
China to exempt 16 categories of US products from tariffsThe 16 category product list marks the first time Beijing announces products to be excluded from tariffs. FMTNews
Read more »