News

Chinese video sharing platform Kuaishou continues investing in livestreaming ecommerce

Wednesday 2 September 2020 14:37 CET | News

China-based video-sharing platform Kuaishou has announced it will launch an “incubation plan” to boost its ecommerce business.

 

It aims to help more than 100,000 new businesses achieve CNY 1 million (USD 146,000) in annual sales on its platform, according to a statement. It will also build over 100 related industrial bases across China, train over 10,000 livestreamers, and host more than 1 million ecommerce livestreaming sessions during the period.

The development comes after Kuaishou announced in June 2020 that it would invest USD 439 million to build a livestreaming ecommerce headquarters in Chengdu, the capital of China’s Sichuan province. The company aims to use it as the base of multi-channel networks, online celebrities, and brand owners. The company claims to have more than 100 million daily active users for its ecommerce services, nearly 45% of whom are based in first- and second-tier cities.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Kuaishou, video sharing platform, partnership, China, ecommerce, social commerce, Asia, APAC, Sichuan province
Categories: Payments & Commerce | Ecommerce
Countries: China
This article is part of category

Payments & Commerce