Chinese video-streaming start-up Kuaishou approaches $1 billion at the end of a funding round led by tech giant Tencent, with hopes to go public within the year, sources told Reuters.
Kuaishou (“fast hand”), founded just seven years ago, has received much attention from investors looking to capitalise on the rapid growth of live streaming in China. Industry leaders Tencent, Alibaba, and Baidu have all shown interest in the company, as well as venture capital firm Sequoia Capital, who will use Kuaishou to supplement the e-commerce branch of their businesses.
Kuaishou’s valuation currently stands at circa $18 billion, and will look to list in Hong Kong, sources say.
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