TikTok competitor Kuaishou is massively popular among millennials; worth over $25 billion

The company raised $5.4 billion in its IPO last Friday.

TikTok competitor Kuaishou is massively popular among millennials; worth over $25 billion | BEAMSTART News

- From our Sponsors -

Kuaishou 快手, a short-video social media platform from China (and also TikTok's major competitor), has raised $5.4 billion from their Hong Kong IPO last Friday.

The Tencent-backed company's shares will be publicly tradable on the Hong Kong stock market starting February 5th, with the company's share price starting at $115 per share.

- Featured Sponsor -

The Kuaishou app.

Kuaishou's IPO marks the second largest IPO debuting on the Hong Kong stock market, trailing behind Alibaba Group's IPO that raised $13 billion in 2019.

Demand for Kuaishou's shares were so strong among retail investors, recording subscription bids crossing $164.8 billion in value — many of them being millennials.

“We’ve had over HK$200 billion worth of applications. Customer demand exceeded our expectations, especially from millennials,” said Ryan Haugarth, head of retail securities, wealth and personal banking for Hong Kong, HSBC
Kuaishou app next to its other competitors.

Despite massive demand for Kuaishou's shares, the company is still running at a loss.

The company has been unprofitable for the past 3 years, reporting a loss of $15 billion in the last 9 months.

Kuaishou currently averages around 262.4 million daily active users, a 59% rise from the previous year.

- From our Sponsors -

Latest Jobs

Influencer Marketing Associate


Yogyakarta, Indonesia

Full Time

SGD 400 — SGD 1000 monthly

English Content Writer


Jakarta, Indonesia

Full Time

SGD 300 — SGD 600 monthly

Fund Accountant

Decacorn Capital


Full Time

SGD 2500 — SGD 5000 monthly

Investment Analyst

Accial Capital


Full Time

SGD 4000 — SGD 6000 monthly

Enterprise Solution Project Manager

Jakarta, Indonesia

Full Time

SGD 2000 — SGD 2100 monthly

Operations Executive



Full Time

SGD 2800 — SGD 3500 monthly

Site Reliability Engineer



Full Time

SGD 2000 — SGD 3500 monthly

Live Streaming Operator


Tangerang, Indonesia

Full Time

SGD 800 — SGD 1100 monthly

Mobile Developer


Jakarta, Indonesia

Full Time

SGD 1000 — SGD 1100 monthly

Engineering Manager


Indonesia Bulk Terminal, Indonesia

Full Time

SGD 1500 — SGD 2000 monthly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.


Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).