'Chinese Government Takes Stake in Short Video Firm Kuaishou
Stake in Short Video Firm Kuaishou
The stake
was acquired through Beijing Radio and Television Station, which is controlled by the Beijing municipal
The unit
also holds broadcast licenses and is majority-owned by Kuaishou’s co-founder Yang Yuanyi
The transaction
was not reported to the Hong Kong Stock Exchange, where Kuaishou shares are listed
But this
may not be required as the shares of many Chinese firms which are listed on
The same
day that the investment was recorded, Kuaishou appeared to appoint a Beijing Radio and Television
In August,
Kuaishou claimed 587 million monthly average users
That number
may include users from its significant overseas operations in developing countries including Brazil, Pakistan and
Last year,
Internet Investment Chinese (Beijing) Technology, another SOE, took a 1% stake and a board seat in
In April
2020, state-owned Wang Tou Tong Da (Beijing) Technology Co acquired a 1% stake in popular social media
That also
gives the state-owned investor the right to appoint a board director
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