Kuaishou ( zh, c=快手, l=quick hand) is a users
short video-sharing mobile app
A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on d ...
, a social network, and video special effects editor, based in Haidian District (Beijing), developed in 2011 by Beijing Kuaishou Technology, by engineers Hua Su (宿华) and Cheng Yixiao (程一笑).
As of 2019, it has a worldwide user base of over 200 million, leading the "Most Downloaded" lists of the
Google Play
Google Play, also known as the Google Play Store and formerly the Android Market, is a digital distribution service operated and developed by Google. It serves as the official app store for certified devices running on the Android (operating sys ...
and
Apple App Store
The App Store is an app store platform, developed and maintained by Apple Inc., for mobile apps on its iOS and iPadOS operating systems. The store allows users to browse and download approved apps developed within Apple's iOS Software Devel ...
in eight countries, such as Brazil. In Pakistan and Indonesia, this app is known as Snack Video. It is often referred to as "Kwai" in overseas markets. Its main competitor is
Douyin
TikTok, known in China as Douyin (), is a short-form video hosting service owned by the Chinese company ByteDance. It hosts user-submitted videos, which can range in duration from 15 seconds to 10 minutes.
TikTok is an international version ...
, which is known as
TikTok
TikTok, known in China as Douyin (), is a short-form video hosting service owned by the Chinese company ByteDance. It hosts user-submitted videos, which can range in duration from 15 seconds to 10 minutes.
TikTok is an international version ...
outside China.
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.
The China Internet Investment Fund, a
state-owned enterprise
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...
controlled by the
Cyberspace Administration of China
The Cyberspace Administration of China (CAC; ) is the central internet regulator, censor, oversight, and control agency for the People's Republic of China. The office also holds the administrative title of the party's Office of the Central C ...
, holds a partial ownership stake in Kuaishou.
History
Kuaishou is China's first short video platform.
developed in 2011 by engineer Hua Su and Cheng Yixiao. Prior to co-founding Kuaishou, Su Hua had worked for both Google and
Baidu
Baidu, Inc. ( ; , meaning "hundred times") is a Chinese multinational technology company specializing in Internet-related services and products and artificial intelligence (AI), headquartered in Beijing's Haidian District. It is one of the la ...
as a
software engineer
Software engineering is a systematic engineering approach to software development.
A software engineer is a person who applies the principles of software engineering to design, develop, maintain, test, and evaluate computer software. The term ''p ...
.
The company is headquartered in
Haidian District
Haidian District () is a district of the municipality of Beijing. It is mostly situated in northwestern Beijing, but also to a lesser extent in the west, where it has borders with Xicheng District and Fengtai District.
It is 431 square km in a ...
,
Beijing
}
Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...
.
Kuaishou's predecessor "GIF Kuaishou" was founded in March 2011. GIF Kuaishou was a mobile app with which users could make and share
GIF
The Graphics Interchange Format (GIF; or , see pronunciation) is a bitmap image format that was developed by a team at the online services provider CompuServe led by American computer scientist Steve Wilhite and released on 15 June 1987. ...
pictures. In November 2012, Kuaishou became a short video community and a platform with which users could record and share videos. By 2013, the app had reached 100 million daily users.
By 2019, it exceeded 200 million active daily users.
In March 2017, Kuaishou closed a US$350 million
investment round that was led by
Tencent
Tencent Holdings Ltd. () is a Chinese multinational technology and entertainment conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the w ...
.
In January 2018, Forbes estimated the company's valuation to be US$18 billion.
In April 2018, Kuaishou's app was briefly banned from Chinese app stores after
China Central Television
China Central Television (CCTV) is a Chinese state- and political party-owned broadcaster controlled by the Chinese Communist Party (CCP). Its 50 different channels broadcast a variety of programing to more than one billion viewers in six lan ...
reported on the platform popularizing videos of teenage mothers.
In 2019, the company announced a partnership with the ''
People's Daily
The ''People's Daily'' () is the official newspaper of the Central Committee of the Chinese Communist Party (CCP). The newspaper provides direct information on the policies and viewpoints of the CCP. In addition to its main Chinese-language ...
'', an official newspaper of the
Chinese Communist Party
The Chinese Communist Party (CCP), officially the Communist Party of China (CPC), is the founding and One-party state, sole ruling party of the China, People's Republic of China (PRC). Under the leadership of Mao Zedong, the CCP emerged victoriou ...
, to help it experiment with the use of artificial intelligence in news.
In June 2020, the
Government of India
The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...
banned Kwai along with 58 other apps, citing "data and privacy issues".
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 January 2021, Kuaishou announced it was planning an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
(IPO) to raise approximately US$5 billion. Kuaishou's stock completed its first day of trading at $300
Hong Kong dollars
The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and ...
(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 February 2021, shares of Kuaishou rose 194% at the opening on its Hong Kong debut. 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 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. The reorganization was done to help Kuaishou cut costs and reverse losses.
In October 2022, state-owned
Beijing Radio and Television Station
Beijing Radio and Television Station (BRTV), formerly Beijing Media Network (BMN), is a government-owned television network in China. It broadcasts from Beijing. The channel is available only in Chinese.
Beijing Media Network was founded ...
took a minority ownership stake in Kuaishou.
Popularity
Compared to Douyin, Kuaishou is more popular with older users who live outside China's Tier 1 cities. Its initial popularity came from videos of Chinese rural life.
Kuaishou also relies more on e-commerce revenue than on advertising revenue compared to its main competitor. Unlike Douyin, Kuaishou's algorithm rewards content creators boasting a highly engaged user base.
See also
*
List of Kuaishou original programming
Kuaishou is a Chinese short video sharing platform.
Variety/live streaming
Short drama
Vertical
Movie
{{DEFAULTSORT:Kuaishou original programming
Lists of television series by streaming service ...
*
List of content platforms by monthly active users
This is a list of top 100 content platforms services by monthly active users (MAU):
See also
* List of social platforms with at least 100 million active users
References
{{DEFAULTSORT:Content platforms by monthly active users
Streaming
...
References
External links
*
{{Hang Seng China Enterprises Index
Companies based in Beijing
Chinese companies established in 2011
Internet properties established in 2011
Mobile applications
Tencent
Video software
Social networking services
Video game streaming services
Live streaming services
2021 initial public offerings
Companies listed on the Hong Kong Stock Exchange
Internet censorship in India