News Snapshot:
Douyin rival Kuaishou files for Hong Kong IPO, reveals loss of over USD 10 billion in first half Written by Share China’s two biggest short video platforms are racing to an IPO. Chinese short video giant Kuaishou has applied to list on the Hong Kong Stock Exchange on Thursday night, eying billions of dollars, while its main competitor, ByteDance-owned Douyin, is also planning an initial public offering (IPO) on the bourse. Founded in 2011 as a GIF-making tool, Kuaishou has evolved to be the second-largest short video sharing and livestreaming platform in China after Douyin, with more than 302 million...
