Kuaishou Keeps Schtum After Report ByteDance Rival Plans USD50 Bln Hong Kong IPO
Liao Shumin
DATE:  Sep 17 2020
/ SOURCE:  Yicai
Kuaishou Keeps Schtum After Report ByteDance Rival Plans USD50 Bln Hong Kong IPO Kuaishou Keeps Schtum After Report ByteDance Rival Plans USD50 Bln Hong Kong IPO

(Yicai Global) Sept. 17 -- Kuaishou told Chinese news outlets 36Kr and the Paper that it had no comment to make on a media report that said the rival to TikTok operator ByteDance plans to go public in Hong Kong.

The Beijing-based short video platform targets a valuation of USD50 billion in its initial public offering, online news platform the Information reported earlier today, citing an insider. 

Kuaishou’s revenue is expected to increase to CNY60 billion (USD8.9 billion) this year from CNY38 billion last year, the report added.

It has more than 300 million daily active users, while its main competitor Douyin, the Chinese version of TikTok, has double that.

Editor: Emmi Laine 

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Keywords:   Kuaishou,IPO,Hong Kong