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“Record the world, record you” |
Founded: 2011, in Beijing, China
Category: Internet Primary office: Beijing, China Primary Office: Beijing, China Core technical team: Beijing, China Status: Private Employees: 8000 Amount raised: $4.4 billion (8 rounds – 2019 |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
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Sells
- Fans headlines – users pay fees to headline their videos and recommended to a certain number of users
- Short video advertisements – brands (especially game brands) advertise on Kuaishou through short videos
- Livestream – users can broadcast live on kuaishou, fans will pay a fee (shared with Kuaishou)
Channels
- Multi-channel advertising (e.g., TV, video websites with high traffic, cinemas)
- Exclusive sponsor of popular TV shows (e.g. “Keep Running”, “Sing!China”, “CCTV Spring Festival Gala Evening”)
- Payment for referrals and invitations
- Coupon package for new users
Competencies
- Maintaining a healthy platform (especially for adolescents); automatic and manual content review for unsuitable content
- Recommend videos based on interests derived from big data and artificial intelligence
- Expertise in “concise style” user interfaces (self-explanatory – no user guides required)
- Understanding of multiple motivations for videos – e.g., leisure, sharing of everyday life, meet higher levels of Maslow hierarchy of needs
- Understanding of their market – 3rd and 4th tier cities and rural districts
- Founder-led management team
Resources
Assets
- Powerful investors and backup including Tencent and Baidu
- Large user base and high user stickiness
- R&D centers in both China and the U.S. (Silicon Valley, Seattle, and San Diego) studying artificial intelligence, machine learning, interactive algorithms, big data, etc.
- Technology partnership with Intel
- Strategic partnership with JD.com so that JD.com products can be purchased directly on the Kuaishou during the livestream
- Partnerships with universities for R&D (e.g. Tsinghua University, Zhejiang University)
- Partnerships with Kugou Music, QQ Music, People’s Daily for music and news
- Video sharing app
Processes
- Frequent updates to innovate and improve, and provide better use experience
- Processes to build online communities
Priorities
- Vision: Everyone’s lives are worth chronicling
- Focus on normal people and record normal people’s life
- Continue to invest in artificial intelligence and big data technology to improve user experience
- Ensure a healthy and positive online environment
- International expansion (strategies vary on domestic market)
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace
- Increase demand by enabling users to participate in product and service development
- Continuously improve the user interfaces and applications that directly influence the entirety of the customer experience including personalized content, quality messaging, and the delivery and returns process to increase sales
- Increase demand by using scientific and technological advances to develop innovative products and services
- Increase demand of products and services by combining two or more resources in a way that the value created from them exceeds the sum of the value created from each resource separately
- Increase profitability by applying processes that make products and services easier to understand, produce and deliver
- Increase market share by selling products and services that the target market perceives to be better than available alternatives
References
- Kuaishou. 2020. Baidu baike. https://baike.baidu.com/item/%E5%BF%AB%E6%89%8B/19678032
- CrunchBase. 2020 https://www.crunchbase.com/organization/kuaishou
- Kuaishou.2020. Wikipedia. https://en.wikipedia.org/wiki/Kuaishou
Tencent-backed Kwai App ranked Most Popular social short video app 2020 . Markets Insider. https://markets.businessinsider.com/news/stocks/tencent-backed-kwai-app-ranked-most-popular-social-short-video-app-1025560745 - Kuaishou earned revenue of $7.2 billion in 2019: report. Technode.
Contributors
- Mengya Chen