Zhang Aiqin, or Brother Egg, performs Yi Jian Mei on Kuaishou. The short video app has offered a place to shine online for millions of underdogs but investors have to gauge if it can turn this appeal into sustainable profits. — SCMP
Determined to give it a try, she paid a few thousand yuan to get online training on how to host a livestream and how to make good videos. Then she started to upload short videos giving tips on how to manage their careers. Tencent-backed Kuaishou, set to raise up to US$5.4bil next month in Hong Kong‘s biggest initial public offering in more than a year, has 264 million daily active users, less than half that of its major competitor Douyin, the Chinese version of TikTok run by ByteDance, which has 600 million. Nevertheless, Kuaishou is seen by many analysts as a pioneer that has helped drive the popularity of short videos in China.
Li Quangen from Baicheng city in China’s Jilin province, says he watches Kuaishou every day and also shares videos about his life as a construction worker drilling wells and laying bricks. “Everyone is either on Kuaishou or Douyin... my mom now watches Kuaishou every day, buys clothes on it and learns new things.”
“The data we look at still points to that fact that Kuaishou users are typically based in lower tier cities... and we don’t see large high fashion, luxury and beauty key opinion leaders moving on to Kuaishou,” said Elijah Whaley, vice-president of marketing, APAC, at branding data intelligence firm Launchmetrics.
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