Parallel Nebula Investment Limited (PNI) has distributed approximately 51 million Class B shares of Kuaishou at the request of certain external capital partners. PNI is an investment vehicle indirectly controlled by Tencent Plus Partners (TPP), which is under Tencent.
Kuaishou, a Chinese short video platform, reported a 16.2% increase in total revenue last year to reach 94.2 billion yuan ($13 billion), up from 81.1 billion yuan in 2021. The company also significantly reduced its adjusted net loss from 18.9 billion yuan in 2021 to just 5.8 billion yuan last year.
Su Hua, Chairman of Chinese short video streaming platform Kuaishou, reduced his holdings of 54,713,783 Class B company shares on January 18. Kuaishou responded that the proceeds will be used for charitable donations, cutting-edge technology and infrastructure investment.
Following the launch of virtual avatar "Douyin Zaizai," ByteDance's Douyin platform recently unveiled a new virtual space. Meanwhile, competing Chinese short video streaming platform Kuaishou is also developing a virtual avatar social networking layout.
On July 19, Tencent Video issued a statement denying reports of its strategic cooperation with short video streaming platform Kuaishou on the secondary creation of long-form videos.
In response to a report on Monday that Su Hua, chairman of Chinese short video platform Kuaishou, was taken away by Chinese authorities for investigation at the end of April, Kuaishou issued a statement on Monday denying the rumor.
Kuaishou has recently revamped its overseas business strategy, setting up targeted ventures in various regions including Southeast Asia and Latin America.
Kwaishop, the e-commerce arm of Chinese TikTok-like short video sharing app Kuaishou, on Monday launched a plan aiming to support 500 Kwai Brands with web traffic of more than 23 billion visits to help them grow.
Zhao Danyang, the former vice president of Chinese short video platform Kuaishou, was sentenced to seven years in prison for accepting bribes of 7.56 million yuan ($1.16 million).
Recently, ByteDance's rival Kuaishou officially launched a new initiative called "Warm Spring Plan 2022". The promotion is an attempt to reduce the impact of the COVID-19 pandemic on Kuaishou's e-commerce merchants.
Chinese short video platform Kuaishou held a meeting among its Internationalization Division on Thursday. Qiu Guangyu, the former head of the division, said he would leave the job in the near future due to personal reasons.
"Zack," the former head of Kuaishou's Southeast Asian market, resigned in February this year. The employee joined Kuaishou in August 2019.
The e-commerce unit of Chinese short video platform Kuaishou announced on Wednesday that product links with Taobao and JD.com will be excluded from some Kuaishou interfaces from 00:00 on March 1, 2022.
In last week’s VC news, Chinese tech-behemoth Tencent injected funds into a French payments startup while short-video powerhouse Kuaishou launched a new VC institution and more.
Chinese short-video platform Kuaishou has recently set a target range between 900 billion yuan ($141 billion) and 970 billion yuan in GMV for its e-commerce operations.
Kuaishou, a leading content community in China, recently launched a live-streaming recruitment function on its platform called Kuaizhaogong.
On Tuesday, China Media Group (CMG) released a statement regarding the broadcasting rights for the Beijing Winter Olympic Games.
Kuaishou, a leading content community in China, appointed Jin Bing as the Chief Financial Officer of the company on Monday.
Douyin recently tested the "Reward" function, which is another way for short videos creators to make money through content.
Kuaishou held its first Ecological Opening Conference on Monday afternoon, announcing that Kuaishou and Meituan had reached an agreement regarding the interconnection of their respective platforms.