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Kuaishou restructures business to reboot operations after slowed Q2

Written by Mengyuan Ge Published on     2 mins read

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The short video company’s share price has nosedived by 80% from its peak in February.

Short video platform developer Kuaishou has undertaken a series of organizational restructuring to streamline the efficiency of its operations, the company said on September 28.

The shifts follow Kuaishou’s anemic user activity in the second quarter of 2021. Core metrics such as original short video uploads, domestic daily average users, and livestreaming revenues were down, in contrast with the significant growth seen in the company’s chief competitor, Douyin. Consequently, Kuaishou is shaking up its core business while seeking growth in e-commerce, overseas markets, and gaming.

Kuaishou is reorganizing its internal divisions based on business lines, in a manner similar to the structures of Tencent, Alibaba, and Meituan, a Kuaishou spokesperson said to KrASIA. Under this arrangement, each division will have more operational independence.

The company has established a special division to run its main app. This operational section will integrate several of Kuaishou’s core business units, including product development, operations, user growth, gaming, and search engine. Wang Jianwei, the former head of product development, will lead the new department and report to co-founder Cheng Yixiao.

Meanwhile, four business divisions will be set up to handle e-commerce, commercialization, internationalization, and gaming. The commercialization team will continue to be headed by Ma Hongbin. Qiu Guangyu has been appointed as the head of internationalization. Ma and Qiu will report to co-founder and CEO Su Hua.

The e-commerce gaming business teams will be led by Xiao Gu and Xu Jie, respectively. They will report to Cheng Yixiao.

In addition, Yan Qiang, senior vice president of Kuaishou, will leave the company due to personal reasons. In a role reconfiguration in July, Wang Jianwei took over Yan Qiang’s duties to become the head of user acquisition.

By redirecting personnel and resources, Kuaishou is aiming to establish practices like those utilized by China’s largest and most influential tech companies.

Furthermore, new dedicated departments will be set up for R&D, data analysis, and project management.

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