Tencent Invests In Photo And Video App Kuaishou

Tencent has invested in the Chinese photo and video app, Kuaishou. The investment is thought to be worth around 350 million US dollars, and means that Tencent now has a strong foothold in the fast-growing mobile streaming market. Data collected by QuestMobile shows that on average, Chinese mobile app users spent more than 340 minutes on Kuaishou in December 2016, making it the 11th most popular app in the country. Kuaishou is particularly popular in rural areas of China, after its launch in 2011 saw it target less urbanised areas than its competition. It is reported that Tencent will try to use this rural success to tap into these areas with its other products.