Anthony Wallace | AFP | Getty Images Venture firm DCM just generated a $16 billion return from the IPO of Chinese social media app Kuaishou. Kuaishou has listed on the Main Board of The Stock Exchange of Hong Kong Limited on Feburary 5, 2021, stock code 1024.HK. Kuaishou Technology analyst ratings, historical stock prices, earnings estimates & actuals. By accessing this page, you agree to the following The Guardian - Shares in the Chinese video app Kuaishou almost tripled on the first day of trading in Hong Kong, giving TikTok’s chief rival a market value of £131bn. His company was one of the earliest investors in Kuaishou, leading one of its first funding rounds back in 2014. All rights reserved. Kuaishou was founded in 2011 and is one of the fastest growing short-video applications in China. From left, the flags of the Hong Kong Stock Exchange, China and Hong Kong are seen flapping in the wind on May 6, 2019. Tickers APPS TC. The listing took place in Hong Kong rather than in the U.S., and DCM co-founder David Chao expects China’s most prominent tech start-ups to follow suit.. Kuaishou on Monday began taking investor orders for the stock sale ahead of a listing on Feb. 5, a term sheet showed. Kuaishou's shares start trading on the Hong Kong stock exchange on Friday. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. It gets most of its revenue from the live-streaming business, where users can buy virtual items and present them as gifts to their favorite hosts. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. ByteDance's Douyin, a Chinese version of the company's hit video app TikTok, competes with Kuaishou in China. Venture firm DCM just generated a $16 billion return from the IPO of Chinese social media app Kuaishou. 4. It also makes money off of online advertising. The Tencent-backed company, whose name means "fast hand" in Chinese, owns an eponymous short-video and live-streaming app. In a. February 06, 2017. China’s Kuaishou Technology (HK: 1024), which operates the most popular short-video service in China after ByteDance Ltd.’s Douyin, soared 194% in its $5.4 billion Hong Kong Stock Exchange debut. Historical Market Data. ... Stock Advisor launched in February of 2002. DCM still has a 9.2% stake in the social network, which is worth more than $14 billion at current market value on Friday. Factset: FactSet Research Systems Inc.2018. 6 Shangdi West Road The company is backed by … Kuaishou became the first mover in China's short video industry that enabled users to create, upload and view short videos on mobile devices. From left, the flags of the Hong Kong Stock Exchange, China and Hong Kong are… Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. High-profile IPOs and follow-on offering transactions led by China Renaissance through December 31, 2020 include JD.com's secondary listing on the Hong Kong Stock … China. Cross asset class data across markets in the NYSE Group and on the CTA and UTP nationally consolidated data feeds. Chinese photo-sharing app Kuaishou planning U.S. IPO later this year. Disclaimer. It is backed by social media and games giant Tencent , … Document Security Systems, Inc. (NYSE: DSS) fell 26.4% to $3.1850 after the company priced its $34.5 million upsized public offering of common stock. Kuaishou completes blockbuster IPO. Kuaishou's stock skyrocketed in value Friday as the TikTok-like video app scored the world's biggest IPO since the coronavirus pandemic began. AMC Entertainment (NYSE: AMC), which lost 21% on Thursday, was indicated up 4.1%. HONG KONG, March 1, 2021 /PRNewswire/ -- China Renaissance Holdings Limited ("China Renaissance" or the "Company"; stock code: 1911.HK) announced … If the company exercises an over-allotment option, the total raised could hit 47 billion Hong Kong dollars (almost $6.1 billion). CAVCA said in the statement it will continue to monitor any violations from short video platforms. An important predictor of whether a stock price will go up is its track record of momentum. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Outside Mainland China, it has also gained considerable popularity in other markets, topping the Google Play and Apple App Store's "Most Downloaded" lists in eight countries. It also vaults over Bilibili’s market cap of USD$ 46.2 billion. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. China’s Kuaishou Technology (HK: 1024), which operates the most popular short-video service in China after ByteDance Ltd.’s Douyin, soared 194% in its $5.4 billion Hong Kong Stock Exchange debut. That puts it way ahead of valuation versus electric car maker Xiaopeng Inc. (NYSE: XPEV) which has a market cap of USD$ 40 billion. The Company provides dynamic picture shooting, dynamic picture sharing, short video community building, and other services. According to the latest data, Kuaishou’s Daily Active Users (DAU) exceeded 200 million in May 2019, while the DAU of Douyin, the Chinese market version of TikTok and Kuaishou’s main competitor, soared to 320 million in July. Here's why, See Jack Ma's first public appearance in months, Trump administration dials up US-China tech tensions, Chinese government halts Ant Group's giant IPO, How China's Ant Group built a $17 trillion payments machine, HSBC may have to choose between China and the West, The moral dilemma of doing business in China, explained, China censors a lot, from Winnie the Pooh to the NBA, Why American fast food chains will do anything to win in China, Kuaishou, TikTok's rival in China, could be the biggest IPO since the pandemic began, A multibillion-dollar shopping obsession goes mainstream in China. Beijing Kuaishou Technology also provides software development, software maintenance, and other services. Over the past six months, the relative strength of its shares against the market has been %. Low-latency, real-time market data feeds cover the various asset classes and markets in the NYSE Group. It's long competed with industry leader ByteDance, which owns the Douyin app — the Chinese version of TikTok. Returns as of 02/21/2021. Kuaishou, recently valued at $18 billion, specializes in youth-friendly user generated short form content. All rights reserved. Australia's wine industry battered as relations with China sour, China bans BBC News after UK pulls CGTN's license, US-China tech rivalry will likely continue under Biden presidency. Price trends tend to persist, so it's worth looking at them when it comes to a share like Kuaishou Technology. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Kuaishou is angling for a valuation of US$50 billion. Most stock quote data provided by BATS. Live-streaming transactions accounted for 84% of revenue in 2019, according to a stock exchange filing. 1024.HK updated stock price target summary. All times are ET. Beijing Kuaishou Technology Co. Ltd. offers internet media services. It. The firm said that would generate a return of roughly 600 times its original investment. Kuaishou also recently launched a new children's app, Kuaishou Qingchunji, to lock in younger users. Hong Kong (CNN Business)Kuaishou's stock skyrocketed in value Friday as the TikTok-like video app scored the world's biggest IPO since the coronavirus pandemic began. View the latest Kuaishou Technology (1024) stock price, news, historical charts, analyst ratings and financial information from WSJ. Kuaishou was founded in 2011 by founders Su Hua, who used to work at Google (NASDAQ: GOOG) (NASDAQ: GOOGL) China, and Cheng Yixiao, a former developer at Hewlett-Packard (NYSE: HPQ). Company profile page for Beijing Kuaishou Technology Co Ltd including stock price, company news, press releases, executives, board members, and contact information Though its listing proves a major win, Kuaishou still faces significant challenges. ... NYSE… By focusing early on the rise of live-streaming and virtual goods, Chao said the company has tapped in on "a new form of monetization that the US is just starting to understand. Shares closed at 300 Hong Kong dollars ($38.70) apiece, marking a 161% jump over the 115 Hong Kong dollars ($14.80) the firm issued them at. Haidian District That included 35 offerings on the Nasdaq Stock Market and NYSE that raised $13.5 billion, the U.S. biggest haul for Chinese companies since 2014. The primary reason, Chao says, is four years of the Trump Administration’s “political bashing” of Chinese companies. Tags Kuaishou Social TC. Beijing, 100085 Kuaishou (Chinese: 快手; lit. David Chao of DCM, which owns a stake worth about $16 billion in Kuaishou, said the trade war of the past four years is a big reason why China’s tech … The listing took place in Hong […] nL1N2K40MB. From TechCrunch. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The debut of the short-form video site on Hong Kong’s stock exchange on Friday was one of the most eagerly anticipated initial public offerings … Updated 10:15 AM ET, Fri February 5, 2021. It's the world's biggest tech listing since, Kuaishou is one of China's leading social media firms. 'quick hand') is a Chinese video-sharing mobile app developed by Beijing Kuaishou Technology Co., Ltd, with a particularly strong user base among users outside of China's Tier 1 cities. Reference Data. "This is an incredible outcome," said David Chao, co-founder and general partner of DCM, a Silicon Valley venture capital firm with $4 billion under management. We’ve created the world’s largest and most trusted equities exchange, the leading ETF exchange and the world’s most deterministic trading technology. The New York Stock Exchange is where icons and disruptors come to build on their success and shape the future. The company's listing had been widely anticipated for months. Its platforms and. ", Kuaishou is the latest company to make a splash by going public in Hong Kong, which has spent the last year. The listing also comes at a time when the tech sector is facing a.