Douyin rival Kuaishou hits 1 Billion monthly user while accelerates oversea expa...
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Douyin rival Kuaishou hits 1 Billion monthly user while accelerates oversea expansion
June 23, 2021 9:30 pmDouyin rival Kuaishou Technology, a short video operator, has amassed 1 billion monthly active users (MAUs)as the company move forward with plans to expand into South America and Southeast Asia.
Detail: The 1 billion MAUs of the Hong-Kong listed short app operator cover Kuaishou in China as well as those on its Kwai and Snack Video apps targeted at international markets,
Su Hua, co-founder and chief executive of Kuaishou said at the earning call that China remain Kuaishou’s most important market and it oversea MAUs has seen a tremendous growth, reaching 100 million in the first quarter and then 150 million by April.
After the announcement, Kuaishou’s stock up more than 6% to HKD200 per share on Wednesday, enabling it to reach market cap of about HKD830 billion.
By comparison, Kuaishou’s major rival Bytedance has 1.9 billion global MAUs across all of its platform, which messaging app WeChat, owned by Shenzhen-based Tencent, has 1.2 billion MAUs.
Kuaishou has inked a partnership deal with stated-owned broadcaster China Central Television to server as its short-video platform partner for the Tokyo 2020 Summer Olympics and the Beijing 2022 Winter Olympics.
According to Su, there are nearly 50,000 high-quality sports content creators and 150 million users who are sports fans on Kuaishou.
Context:
Tapping into short video and live streaming has become a hot trend in China this year as more enterprises in traditional sectors, including smartphones and home appliances, found ways to reach out to customers through online channel amid the lockdowns and quarantine measures imposed nationwide to contain the spread of the virus.
This hot trend allows both Bytedance and Kuaishou grew dramatically and expand business beyond its short video.
Bytedance has invested heavily in video games, launching a brand and official website for its gaming unit Nuverse Games in February. While Kuaishou accelerate oversea expansion by investing USD 1 billion in Souhteast Asia and South America this year.
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