Kuaishou, the Chinese short-video app that’s the biggest domestic rival to ByteDance, has gained approval for a Hong Kong initial public offering that could raise as much $6 billion. The listing offers a preview of investor appetite for the eventual listing of its larger rival, ByteDance, owner of TikTok. Kuaishou’s biggest investor is Chinese games and social network giant Tencent, which...
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TikTok CEO Goes to Washington With a Disparate Band of Allies
TikTok is one of the most popular entertainment services in the U.S., used monthly by nearly half of the population. Yet as the app battles for its life, it has remarkably few allies to provide support. Even those that directly benefit from TikTok, such as music labels and creators, have mixed feelings about TikTok, largely because they say it doesn’t pay its partners enough. That’s...
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