Chinese Government Takes Stake in Kuaishou, Short Video Rival to TikTok

The Chinese government is understood to have taken a small but significant equity stake in Kuaishou, China’s second largest short video platform and a direct rival to Douyin, the Chinese half of TikTok. The stake was acquired through Beijing Radio and Television Station, which is controlled by the Beijing municipal government. It invested RMB1.01 million ($140,000) for a 1% per cent stake in Beijing Kuaishou Technology, the mainland Chinese unit of Kuaishou, according to records on Chinese corporate data provider Qichacha, cited by media including the South China Morning Post. The unit also holds broadcast licenses and is majority-owned by… Read Full Article