Hong Kong IPO fever is not over, yet. Kuaishou, the biggest rivalry of TikTok, is looking to raise US$5.4bn in Hong Kong IPO this week. Because of the failure of Alibaba’s ANT IPO which was valued at US$313 billion, Kuaishou’s IPO is going to be the world’s biggest internet IPO since Uber’s $8.1 billion U.S. share sale in May 2019.
This brings Kuashou’s valuation to US$50 Billion. Comparing to its listed peers, the market capitalization of Bilibili is at US$43bn and the value of iQIYI is at US$16bn.
Who is Kuaishou?
Thanks to Donald Trump, the whole world got to know China’s famous short video platform TikTok (Douyin in Chinese). But not many foreigners are familiar with Kuaishou.
Kuaishou (literally means “Fast Hand” in Chinese) is among the most popular video-sharing platform which has an average of 262 million active users per day. The main company is called Beijing Kuaishou Technology Co Ltd, which was backed by Tencen...