Kuaishou, the privately-owned Chinese short-form video sharing company, is set to IPO on the Hong Kong stock market which may value the company at $62bn. The company is popular in China and other international markets, particularly India where it is known as Snack Video. It has an e-commerce function where users buy virtual gifts within the app which supplement ad revenue. The company, with over 200m daily users, is aiming to raise $5.5bn in a feverish IPO market globally, possibly stoked by government monetary stimulus during the pandemic.
Kuaishou competes with TikTok (known as Douyin within China) which has faced regulatory barriers in markets outside of China.
