Kuaishou Hits 1 Billion Users, Earns Rights to Broadcast Tokyo Olympics

Isabella James, Tech Times 23 June 2021, 10:06 pm

Kuaishou, a short video company from China, has reached 1 billion monthly active users (MAU), according to the company's co-founder and CEO.

In a speech delivered from Beijing, Co-Founder and CEO Su Hua added that the MAUs include all of the company's existing platforms in China and those in the international market. For example, Kuaishou is known as Kwai in overseas markets and Snack Video in India.

Kuaishou now joins Facebook and TikTok among the apps that have surpassed the 1 billion MAU. According to an article by TechCrunch, Facebook has an MAU of 2.85 billion as of March, while TikTok is predicted to cross the 1.2 billion mark.

The app is considered the biggest rival of TikTok in China. TikTok, known in its home country as Douyin, is reportedly the most downloaded app in Google Play and App Store, with 52 million downloads last April. In addition, the app's content challenges, such as the Bugs Bunny Challenge and Back Crack Challenge, have been continuously making waves and trending on social media.

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Kuaishou to Broadcast Tokyo Olympics

Concern Mounts Over The 2020 Tokyo Olympics Amid The Ongoing Coronavirus (COVID-19) pandemic

(Photo : (Photo by Carl Court/Getty Images))
TOKYO, JAPAN - MARCH 19: A Tokyo 2020 Olympics banner is displayed on a building on March 19, 2020, in Tokyo, Japan. As Japanese and IOC officials continued to insist that the Games would go ahead as planned, Japan's Deputy Prime Minister said on Wednesday that the Tokyo Olympics are cursed, as speculation grows that the Olympics will have to be postponed due to the ongoing coronavirus (COVID-19) pandemic.

In the same speech, the Kuaishou CEO also announced that the platform had earned the official broadcasting rights for the much-delayed Tokyo Olympics, which is scheduled to begin on July 23, 2021. It is through a partnership with China-owned broadcaster China Central Television.

It also earned the rights for the 2022 Winter Olympics, which will be held in Beijing in February.

Per PR Newswire, Kuaishou is the first-ever short video and live streaming platform to become a broadcasting partner of the Olympics.

Kuaishou Stock Value Climbs

The previously mentioned TechCrunch report also states that after Kuaishou's double announcement, its stock prices climbed in Hong Kong, where the company is listed.

The company's stock value rose to more than 6%, around $25 per share.

Kuaishou: What It Is

Kuaishou was founded in 2011 and launched initially as GIF Kuaishou. At that time, the app was meant to be used to create GIFs. It was then re-launched as a short video social platform in 2013. Finally, a live streaming extension was added to the platform in 2016.

Kuaishou's current roster of products include:

Kuaishou Flagship - the company's short video and content-based social networking platform that is powered by artificial intelligence (AI) and big data technology

Kuaishou Express - Officially launched in 2019, Kuaishou Express has a simpler interface than Flagship and is geared towards a broader set of users.

Kuaishou Concept - Launched in 2018 and can be accessed via mini-programs, mobile web pages, and websites

Yitian Camera - Contains Japanese and Korean-style filters and stickers meant to enhance photos and videos

Kmovie - An easy-to-use tool that lets users shoot, edit, and produce videos

AcFun - A video-sharing website in China purchased by the company in 2018

Kuainkandian - An information content aggregator that can provide users with personalized reading value

This article is owned by Tech Times

Written by Isabella James