![]() ![]() In June 2020, the Government of India banned Kwai along with 58 other apps, citing "data and privacy issues". In 2019, the company announced a partnership with the People's Daily, an official newspaper of the Central Committee of the Chinese Communist Party, to help it experiment with the use of artificial intelligence in news. In April 2018, Kuaishou's app was briefly banned from Chinese app stores after China Central Television (CCTV) reported on the platform popularizing videos of teenage mothers. In January 2018, Forbes estimated the company's valuation to be US$18 billion. In March 2017, Kuaishou closed a US$350 million investment round that was led by Tencent. By 2019, it exceeded 200 million active daily users. By 2013, the app had reached 100 million daily users. In November 2012, Kuaishou became a short video community and a platform with which users could record and share videos. GIF Kuaishou was a mobile app with which users could make and share GIF pictures. Kuaishou's predecessor "GIF Kuaishou" was founded in March 2011. The company is headquartered in Haidian District, Beijing. Prior to co-founding Kuaishou, Su Hua had worked for both Google and Baidu as a software engineer. developed in 2011 by engineer Hua Su and Cheng Yixiao. Kuaishou is China's first short video platform. The China Internet Investment Fund, a state-owned enterprise controlled by the Cyberspace Administration of China, holds a partial ownership stake in Kuaishou. Kuaishou's overseas team is led by the former CEO of the application 99, and staff from Google, Facebook, Netflix and TikTok were recruited to lead the company's international expansion. Its main competitor is Douyin, which is known as TikTok outside China. It is often referred to as "Kwai" in overseas markets. In Pakistan and Indonesia, this app is known as Snack Video. The company is known for developing a mobile app for sharing users' short videos, a social network, and video special effects editor.Īs of 2019, it has a worldwide user base of over 200 million, leading the "Most Downloaded" lists of the Google Play and Apple App Store in eight countries, such as Brazil. 'quick hand') is a Chinese publicly traded partly state-owned holding company based in Haidian District (Beijing), founded in 2011 by Hua Su (宿华) and Cheng Yixiao (程一笑). ![]() China Internet Investment Fund ( Cyberspace Administration of China) ![]()
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