Kuaishou

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Kuaishou (Chinese: 快手) is a Chinese video sharing app, developed by Beijing Kuaishou Technology Co., Ltd. In addition to China, it has also gained considerable popularity in other markets: it has topped the Google Play and Apple App Store "most downloaded" lists in eight countries outside of China.[1] It is often referred to as "Kwai" in overseas markets.

Kuaishou's predecessor, "GIF Kuaishou", was founded in March 2011. GIF Kuaishou was a mobile application created to make and share GIF pictures. In November 2012, Kuaishou transformed into a short video community, and a platform for users to record and share videos depicting their everyday lives.[2] By 2013, the app had already reached 100 million daily users.[3] By 2019, that figure had surpassed 200 million active daily users.[4]

Kuaishou has a particularly strong user base among users outside of China's tier 1 cities.[5]

In March 2017, Kuaishou closed a US$350 million investment round led by Tencent.[3] In January 2018, Forbes estimated the company's valuation to be approximately US$18 billion.[6]

Kuaishou was founded by Su Hua and Cheng Yixiao.[7] Prior to co-founding Kuaishou, Su Hua had worked for both Google and Baidu as an engineer.[6] The company is headquartered in Haidian District, Beijing, China.[8]

Kuaishou's main competitor is Douyin, which is known as TikTok outside of China.[9]

In 2019, the company announced a partnership with the People's Daily, an official newspaper of the Communist Party of China, to help it experiment with artificial intelligence in news.[10]

References[edit]

  1. ^ "Tencent-backed Kwai App ranked Most Popular social short video app". Business Insider. Retrieved 2019-09-03.
  2. ^ "Kuaishou". Baike Baidu.
  3. ^ a b "Behind the success of Kuaishou, the biggest social video sharing app in China". Technode. May 17, 2017. Retrieved September 2, 2019.
  4. ^ "Is short-video start-up Kuaishou too 'Zen' for China's internet culture?". South China Morning Post. 2019-06-20. Retrieved 2019-09-02.
  5. ^ Synced (2019-08-12). "Tencent-backed Video App Kuaishou Is Turning Chinese Country Folk Into Hollywood Directors". Synced. Retrieved 2019-09-02.
  6. ^ a b "Su Hua". Forbes. Retrieved 2019-09-02.
  7. ^ Jing, Meng (June 20, 2019). "Is short-video start-up Kuaishou too 'Zen' for China's internet culture? Its founders think so". South China Morning Post. Retrieved September 2, 2019.
  8. ^ "Bloomberg Company Profile: Beijing Kuaishou Technology Co Ltd". Bloomberg. Retrieved September 2, 2019.
  9. ^ "One of China's hottest video apps is flirting with video gaming". South China Morning Post. 2018-12-19. Retrieved 2019-09-02.
  10. ^ Li, Jane (September 20, 2019). "China's tech giants are helping the Communist Party's newspaper fine-tune its online voice". Quartz. Retrieved 2019-09-22.

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