NewsKEY STAT | Tiktok and Douyin are the top-grossing apps worldwide for the seventh monthApproximately 86% of TikTok’s revenue came from Douyin in China. 2 mins read
China’s two biggest short video platforms are racing to an IPO. NewsDouyin rival Kuaishou files for Hong Kong IPO, reveals loss of over USD 10 billion in first half3 mins read
Tencent, which has backed Kuaishou since 2017, will be a cornerstone investor in the IPO. NewsAlibaba and Jack Ma’s YF Capital to join Kuaishou’s upcoming Hong Kong IPO2 mins read
ByteDance said that it is considering to spin off some businesses for standalone listings, but that has yet to be finalized. NewsByteDance considers listing Douyin business in Hong Kong1 min read
The company will use new funds to build e-sports facilities and roll out short video e-sports content, among other initiatives. NewsTencent and Kuaishou invest in e-sports startup VSPN2 mins read
The standalone shopping channel is a strategic move by Baidu which is ramping up e-commerce capabilities in its mobile ecosystem. NewsBaidu launches in-app shopping channel in latest e-commerce move2 mins read
The rivaling pair is facing new competitors. InsightsHuya-Douyu merger creates a livestreaming behemoth under the control of Tencent4 mins read
With the platform extending the maximum length for videos and introducing other updates, Channels could be WeChat’s next battleground to drive sales. NewsDouyin short-video rival WeChat Channels tests livestreaming feature2 mins read
Kuaishou’s valuation reached USD 28 billion after a USD 3 billion financing round in December led by Tencent. NewsKuaishou considering Hong Kong IPO with USD 50 billion valuation1 min read