Latest news and updates on Kuaishou. Founded in 2012 as a site to share gifs, Kuaishou is now one of the leading short-video platforms. With almost 300 million daily active users as of January 2020, Kuaishou is trying to turn a profit with livestreaming e-commerce.
A 15% estimated growth in total revenue for the company is expected this 2023. As China's economy continues to stabilize, Tencent Holdings might bounce back from its 2022 downsizing with several layoffs, shutdowns, and investment quitting.
Chinese internet giant Tencent Holdings plans to shut down its content creation app Kandian next Monday (Aug 15), further consolidating its content business in a broad corporate shift to favour efficiency over expansion. Kandian will cease operations and shut down servers by the end of day on Aug 15 as part of “adjustments in business development strategy”, according to an.
Tencent notified users of Kandian to back up their data before August 15, when the app will stop working, but some features will still be accessible on QQ.