Kuaishou - the video sharing social media platform in Hong Kong dubbed as the main rival of TikTok in the country could set the biggest initial public offering or IPO since the pandemic has began. And now, it could also be considered one of the fastest growing tech and social media app-based startups as part of the massive technology rise in China through the years.
Kuaishou App History- Then and Now
The social media app was originally called as "GIF Kuaishou" when it was founded way back in 2011. Its main objective was for the users to make and share GIF images on the app itself, allowing it to become a social media site-like platform. Yet as a year passed, it shifted from a platform for sharing GIF images on to a short video community, wherein its users could now record, edit, and share their self-made videos such as the likes of short films, skits, mini vlogs, etc. Most of the content usually presents the users' daily lives as well as their activities and day to day routine.
The minds behind putting up the app on to becoming a real deal came from the company's co-founders, namely Su Hua and Cheng Yixiao, both hailing from China.
The current chief executive officer or CEO, Su, came from a poor town which served as a home for the Tujia ethnic minority set in the region of Southern Hunan province. Yet he managed to come up from his then lowered status and has been on to the field of tech business for years.
He graduated from the Beijing's Tsinghua University which is often being compared to the Massachusetts Institute of Technology or the MIT in the US. He then became as an engineer on multi tech giant Google where he worked during most of his early years. He eventually joined Cheng on to further establishing Kuaishou in 2013, which paved the way for their unwavering success being felt today.
As for the company's original founder, Cheng grew up in Tieling which is located in the Northeastern province of Liaoning as mentioned by the South China Morning Post. He was then recognized as a complete and total 'programming geek' who had spent his time on businesses such as for products and technology. He was described by Zhang Fei, a fisher who was one of the early investors of Kuaishou, to be someone who was really not good at communicating with other people. He added that he would prefer to talk to others through virtual means.
The Birth of the IPO Record-Breaker
It was then during one time that the two met in a restaurant for the very first time, but already found each other with the same vision of doing something that would be inclined for the ordinary internet users of China. Upon formalizing everything, Su became Kuaishou's CEO, while it was Cheng wo became the product manager position. Their journey of bringing Kuaishou as a social media and video sharing app then started where they worked towards their goal to become a popular and at the same time a useful one for users to appreciate and enjoy.
Now, with Kuaishou being placed on to the table of various companies available for an IPO, it could set an IPO listing value of up to 6.2 billion USD as per CNN Business. If it would push through, it could then be labeled as the biggest one for a tech-based company form the country ever since the pandemic brought about by the COVID-19 started.