Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Video Streamer Bilibili’s Revenue Nearly Doubles, Shares Rise
Forbes Names China’s Top 100 Businesswomen of 2021 With 40 New Entries
China’s Electric Vehicle Sales Expected to Grow 51% This Year, Research Firm Says
Chip Startup Horizon Robotics Joins Hands with Automaker to Develop Smart Cars
Chinese Copycats Rush in as Clubhouse is Blocked in China
Honor of Kings Retains Top Spot as World’s Highest-Earning Mobile Game
Trending in China: Employee Punished After Gaining Beijing Residency Rights Then Quitting Firm
Industrial Software Startup Eyes Southeast Asia With Latest Funding
Alibaba-Backed Lender MYBank is One of First Privately Owned Banks to Join Digital Yuan Pilot
China Still Far From Semiconductor Self-Sufficiency, Report Says
Tencent-Backed Esports Company VSPN Weighing U.S. IPO
Trending in China: Ride-Hailing Van Death Raises Concerns About Women’s Safety
Mobike Co-Founder Hired to Lead Baidu-Geely Electric Car Firm
Geely and Concordium Team Up to Tap Blockchain Opportunities in China
Trending in China: Today Smartphones, Tomorrow Smart Cars? Xiaomi Rumors Fly
Trending in China: Young Chinese Techie Becomes Internet Star After Chat With Apple’s Cook
Mastercard Partners with Fintech Firm to Launch Central Bank Digital Currency-Linked Prepaid Card
European Consumers Group Targets TikTok
Xiaomi Overtakes Samsung, Huawei in Russia for Smartphone Sales Online
Video Streamer iQiyi’s Subscribers and Revenue Fall, but so do Losses
Kuaishou Sees No Pressure to Meet $2.1 Billion Advertising Goal

By Liu Shuangshuang and Isabelle Li / Oct 26, 2019 05:28 AM / Business & Tech

Photo: VCG

Photo: VCG

A year after fully launching its marketing platform and tools, Chinese video-streaming unicorn Kuaishou, TikTok’s biggest domestic rival, reported taking on more than 1,000 big brand owners as “key account” clients and more than 100 companies as advertising agencies.

More than 200,000 short video content creators on the popular platform have profited from the advertising push by at least 600,000 active merchants, each video generating average profit of 11,000 yuan ($1,560) this year, the company said Thursday.

Yan Qiang, Kuaishou’s vice president of commercialization, said there is no pressure to meet the annual goal of 15 billion yuan ($2.1 billion) of advertising revenue this year.

Total revenue from marketing by the end of this year may actually “take a big leap” because of the coming Nov. 11 “Double 11” online shopping festival, Yan said. The company will partner with Alibaba for a livestreaming interactive gala party on Nov. 11, Yan said at a Thursday press meeting. In November, Kuaishou will also launch open-screen advertisements for its short video content.

Kuaishou initiated its marketing platform and tools for big and small merchants last year on Oct. 30 with a goal of taking in 15 billion yuan from advertisers in 2019. The short video app, reportedly seeking new funds with an evaluation of $25 billion, is backed by Tencent, Sequoia Capital and Baidu, among other high-profile investors, and claims to have surpassed a daily active user base of 200 million.

Related: Video App Kuaishou Mulls U.S. IPO, Raises Funds at $25 Billion Valuation

Contact reporter Isabelle Li (liyi@caixin.com)


Share this article
Open WeChat and scan the QR code