Not all business news is bad, some companies are growing in the pandemic. It just depends on he industry and tenacity of the firms. Recently, Kuaishou, China’s leading short-video and livestream platform, revealed that daily active users reached 170 million in the first half of this year, a 70 million surge since the end of 2019.
From July 2019 to June 2020, 70% of users who published on Kuaishou were under the age of 30. During the first half of 2020, 29.8% of content was published in the short-video format.
In December 2019, Kuaishou announced that the number of daily livestreamers had exceeded 100 million. However, this figure has surged to 170 million over the last six months.
Meanwhile, from July of 2019 to June of 2020, some 300 million content creators have published original content on the platform.
For the e-commerce function, the categories that saw the most substantial increase in vendors were apparel, local services, house and home, automobiles and beauty and cosmetics. Meanwhile, new businesses that took up live-streaming during this time primarily came from cars, smartphones, house and home, beauty and cosmetics, and education, showed the report.
This year, Kuaishou also launched its own shopping festival, Kuaishou “616 Shopping Carnival”, on the platform for its users. It also collaborated with China’s e-commerce giant JD.com to launch a 24-hour special online-shopping campaign “Doubling 10 billion-yuan subsidies shopping extravaganza,” which saw a total payment amount over 200 million dollars (1.42 billion yuan) on June 16th alone. (Unlike GMV, the payment amount reflects the real payment and transaction volume. GMV, however, also count the orders that have been placed but might not have been paid yet.)
Kuaishou Technology is a technology company that develops content sharing platforms. Their flagship product, Kuaishou, is China’s leading short video sharing and social networking platform ands is powered by big data, to create a highly personalized experience which encourages members to stay in the ecosystem.
Founded in 2011, Kuaishou Technology is headquartered in Beijing with offices in China, the United States, India and Brazil. They are funded by a who’s who of tech investors, including DCM Ventures, Morningside Venture Capital, Sequoia Capital, Temasek Holdings, Tencent and Baidu.