From all indications, Kuaishou is good news for all its investors. This is owing to the massive strides it has made by hitting approximately 160 billion dollars in valuation. This is surprising given the fact that this video app company is breaking records in this regard.
How Much Success in the Financial Market
Kuaishou shares almost tripled despite the fact it was the first time they were trading in the competitive Hong Kong stock market. This major feat has made the valuation of the company skyrocket.
This feat can be compared to what the likes of Uber did in the year 2019 when it raised over 8 billion dollars in the first public offering.
The amazing stride by the company has drawn the attention of major industry experts like Ronald Wan – the founder and chief executive of the Investment Firm Partners Capital in Hong Kong. While appraising the Video App Company, Ronald Wan explained that it was hard to recall any company doing that much in recent years. He stressed how accomplishing such a feat was an “extraordinary performance”.
Kuaishou has Been Around for a While
While Kuaishou may just be hitting the headlines for such an extraordinary financial feat as explained by Ronald Wan, the company is not a startup.
As a matter of fact, it has been around for close to a decade. However, it only began to gain this much publicity when it changed its focus from creating short animation and Gif images to creating a platform where users could make short videos.
As things are, the number of Chinese users that either use or check this app is increasing by the day. One of the recent statistics showed that over 262 million people in China use this platform. By making its services very accessible to Chinese users, the company has been able to leverage the benefits of dealing with a large population.
On the sidelines, many industry experts think that Kuaishou is fast becoming a force to reckon with and a big competition for the popular TikTok.