Tencent-backed Kuaishou invests in comic startup Crossingstar as China’s manga scene grows

The social and gaming giant is actually an earlier investor for this startup.

Photo: Tuchong

China’s second-largest short video platform Kuaishou reportedly invested in local manga startup Crossingstar, the second deal in the country’s online manga sector over a short time span, signaling a growing online comic and animation scene in China.

Tencent which backs Kuaishou just invested USD 125 million in Kuaikan, which runs a comic app and a community for comic fans, KrASIA reported last week.

Crossingstar was founded in 2013 by Lv Munan in Hangzhou, capital of east China’s Zhejiang province. Lv is a comic scriptwriter herself.

A total of 12 works from Crossingstar is now available on Tencent’s own comic platform ac.qq.com.

Kuaishou has not responded to KrASIA‘s request for a comment on this deal, while the value of the deal is not disclosed in the company’s registration information with the local authority.