Due to the large number of mobile users and short video’s virus spread on social media, short video industry is seeing booming growth in China.
QuestMobile have recently released their semi-annual report on the short-video industry. 7.2 out of 10 mobile Internet users are using short-video products.
Chinese tech giant Tencent is planning to invest between $1 billion and $1.5 billion in short-video application Kuaishou, known outside of China as Kwai, which has a current valuation of around $25 billion.
Chinese short-video app Kwai (Kuaishou) managed to make it to the second place of the ranking with earnings approaching $78 million, a 57 percent year-over-year increase.
Kuaishou founders Su Hua and Cheng Yixiao said they are unhappy about the company’s performance and growth.
On Apr. 16, Kuaishou Technology, developer of leading short video applications with the same name, announced the launch of the Kuaishou Social Impact Institute.
On Mar. 27, the video streaming platform Kuaishou officially released the “Leaders of Intangible Cultural Heritage” project.