Kuaishou

The app saw a drop in daily and monthly active users in the second half of 2020.

Although group-buying has been around in China way before the COVID-19 pandemic, the sector enjoyed renewed popularity thanks to social distancing measures.

The pandemic accelerated tech trends that will continue to dominate daily life in 2021.

In the past decade, the company has raised around USD 900 million in capital.

The listing was delayed due to the large number of orders placed in the secondary market, a source told 36Kr.

Douyin Huoshan and Douyin have more than 600 million daily active users.

Latecomers have to be able to endure large-scale losses, says Haitong’s Natalie Wu.

Kuaishou users bought goods worth USD 16.56 billion between January and June while watching short videos or livestreams.