Kuaishou founders Su Hua and Cheng Yixiao said they are unhappy about the company’s performance and growth.
In an open letter leaked to the media on Monday, the founders of the Chinese startup behind the popular short video app Kuaishou , announced that they would change the organization and optimize the company structure.
According to the data, Kuaishou‘s daily active users (DAU) reached 160 million in 2018, and in May this year the company crossed the 200 million mark.
“But, behind the seemingly good numbers, we have seen deep hidden dangers.” the founders warned, “We are no longer the fastest team. In the process of growing up, our muscles become weaker and our reactions become slower. Our connection with users is also weakening, Indeed, we are not satisfied with the status quo, the loose organization, the zen attitude, becoming a ‘slow company’, this is all very worrisome.“
On June 18, the journalist was informed that Kuaishou founders Su Hua and Cheng Yixiao issued an internal letter to all Kuaishou employees, announcing that they would change the company’s organization, optimize the structure, and propose a goal: to reach 300 million DAU before the 2020 Spring Festival.
In order to boost sales, Kuaishou confirmed that its short video app has been integrated with JD.com and Pinduoduo to boost its e-commerce capabilities, allowing users to sell goods to each other. It lets users demonstrate products listed on these sites, via a channel called Kuaishou Small Store.
The collaboration may enable Kuaishou to reach its ambitious revenue target of making 30 billion yuan ($4.36 billion) this year.
Featured photo credit to Reuters