Kuaishou

The bi-annual internet report published by the Chinese government provides insights of various internet sectors’ current developments.

The number of Chinese users paying for knowledge will hit 387 million this year.

And access to the app is only allowed between 6 a.m. and 10 p.m.

The live streaming business is Kuaishou’s main revenue source, contributing 90% of the firm’s total revenues.

Tencent would own 20% of Kuaishou after the completion of the deal.

ByteDance, YY.Inc and Kuaishou expand their rivalry overseas.

“No two services are the same,” an Instagram spokeswoman said while acknowledging that TikTok is doing “big things” in the short video format.

Huya’s parent company and largest shareholder booked an 83.1% net income slump due to the firm’s overseas expansion effort.