On June 25th, Chinese short video company Kuaishou conducted an Investment Promotion Conference for the Books and Education Industry in Beijing, and released a business support and training plan for the industry.
Kuaishou will introduce corresponding policies in account positioning, content, page views and operation to support the development and monetization capability of streamers and merchants. Among them, Kuaishou launched the first phase of the “Rocket Class” investment cooperation support plan, targeted at businesses that want to rapidly improve their operational and commercial liquidity.
Kuaishou, which started as a short video and live streaming platform, is accelerating its educational layout. Spark Education, an Chinese online education company, received $30 million in D+ Round capital investment from Kuaishou after the Spring Festival earlier this year.
The books and education industry is rapidly coming to represent a new vertical growth point for Kuaishou e-commerce. According to official data from Kuaishou, in the month ending June 20, the gross merchandise volume of books and education sellers and buyers within Kuaishou’s network increased by 317% – 307% and 516%, respectively.
In the first quarter of this year, the average daily active users of Kuaishou’s Chinese applications and applets reached 379.2 million. By the end of March, the number of revenue-generating users of Kuaishou platforms in the past 12 months reached 24 million, with more than 11 billion pairs of mutually-followed users on Kuaishou.