Kuaishou Technology is seeking to raise as much as USD
5.4 billion in Hong Kong. This could be the world’s biggest internet initial
public offering (IPO) since Uber Technologies Inc.’s USD 8.1
billion U.S. share sale in May 2019.
Kuaishou is a Chinese social media app that allows users to
share short videos, photos, live streams, and voice notes. The company uses AI
to analyze user behavior and content and then uses this information to create
new features and services.
As a free online platform, it allows users to upload images
and videos and make them into animated gifs. It was founded in 2011 by two
Chinese students who wanted to make sharing photos easier. They created a
website where people could upload pictures and videos and convert them into
animated gifs, which were then shared on social media sites like Facebook and
Twitter. This application has exceeded the average 300 million mark of daily active
users, which makes it a popular app.
As an online video platform, Kuaishou allows its all users
to broadcast daily activities like TikTok.
In terms of average Daily Active Users (AKA DAUs), Kuaishou is the world’s 2nd largest short
video platform and it is also the 2nd largest live-streaming e-commerce
platform by Gross Merchandise Volume (AKA GMV).
Kuaishou Technology is backed by Tencent Holdings, with a price of 365.2
million shares at between HK$105 and $HK115 each. There is a so-called
greenshoe option to sell a further 54.78 million shares in the 30 days after
listing which could take the total to $6.2 billion.