Kuaishou has changed the lives of millions in China, but will the short video app prove a good investment?
- Kuaishou is set for an initial public offering in Hong Kong that would be the city’s biggest in over a year
- Short video app has offered a place to shine online for millions of underdogs but investors have to gauge if it can turn this appeal into sustainable profits
36-year old Lin Yanqiong left her home in a small village in China’s central Hubei province to become a migrant worker at the age of 15, moving across the country to take a variety of jobs, including a nurse, waitress and masseuse.
Her relatively underprivileged life changed though when she watched a streaming show by online celebrity Xinba, a guy who sold 1.25 billion yuan of products in a single live-streaming session on Kuaishou, a short video app she enjoys watching. She was shocked.
“I thought live-streaming was just for beautiful girls to sing, dance and sweet-talk in front of the camera and to receive virtual gifts from their fans,” said Lin. “I didn’t realise that people can actually … make [real] money on Kuaishou.”
Determined to give it a try, she paid a few thousand yuan to get online training on how to host a live-stream and how to make good videos. Then she started to upload short videos giving tips on how to manage their careers.
In less than two months, she had 100,000 followers and soon started to offer private tutorials on how to make good videos for those who had bought 288 yuan (US$44.50) worth of virtual gifts during her live-streams. “People like me can also gain followers and teach others [thanks to Kuaishou],” she said.
Lin says she has made over 100,000 yuan in less than 12 months on Kuaishou, which translates as ‘speedy hand’ in English.
