TikTok's parent company Bytedance plans to launch Douyin for listing in Hong Kong alone, and has communicated with investment banks on underwriting matters
ByteDance is considering promoting the independent listing of Douyin business in Hong Kong. People familiar with the matter said that Goldman Sachs and many other investment banks have communicated with ByteDance about underwriting matters.
Verified this by ByteDance, and the relevant person in charge of ByteDance responded that he is considering some business listing plans, but has not yet finalized it.
As early as July this year, it was reported that ByteDance was considering listing its domestic business in Hong Kong or Shanghai. Reuters quoted people familiar with the matter as saying that if the Chinese business were listed separately, the valuation would exceed US$100 billion. However, according to 36Kr, the Chinese business of ByteDance will be split again, and the Chinese business of Douyin will be listed separately.
Douyin’s biggest rival, Kuaishou , will also be listed in Hong Kong in the first quarter of 2021. According to Tencent’s first-line news, Bank of America and Morgan Stanley are the sponsors of Kuaishou.
On the short video track, Douyin and Kuaishou have harvested a large number of users, leaving other opponents far behind. Public information shows that Douyin released its daily active user data in August of this year. Including Douyin Volcano version, Douyin has more than 600 million daily active users. In the same period, Kuaishou has not yet released its daily activity data, but according to the "2019 Kuaishou Content Report" released in February, Kuaishou Daily Life exceeded 300 million in early 2020.
In addition to short videos, Douyin and Kuaishou are constantly superimposing new content forms and product features, such as medium and long videos, live e-commerce, etc., looking for a second curve of growth.
In October of this year, ByteDance defined the concept of " Chinese Video " for the first time . Douyin will support horizontal screen, and together with Watermelon Video , it will jointly establish a Chinese video ecosystem of ByteDance. Medium video refers to 1-30 minutes horizontal video with PGC content as the main content. According to the video consumption data in Douyin, 1-30 minutes of video views have exceeded 20%. At the same time, Douyin is also actively experimenting with social interactions, internally testing a number of acquaintances' social functions such as "friends" to make up for the social shortcomings of content consumption products for media.
Kuaishou carried out the “ largest scale upgrade ” of its brand and products in September this year , adding a single stream of information similar to Douyin, with the intention of taking a share of the information stream advertising. Kuaishou has realized that KOL private domain traffic is too sticky and strong under the dual-column information flow, which is not conducive to continuously increasing user ARPU (monthly user contribution revenue).
In addition, Douyin and Kuaishou each increased their investment in live broadcast e-commerce this year. Douyin officially formed an e-commerce team this year and signed Luo Yonghao to enter the game with a high profile. Kuaishou signed Jay Chou and set a target of 250 billion yuan for the whole year, while the GMV target of Douyin live broadcast e-commerce is also as high as 200 billion.
The struggle between Douyin and Kuaishou extends from the battle of the main App scale all the way to the capital market, and the final game results on each subdivision track will also affect the valuation of both parties in the capital market. According to sources familiar with the matter cited by The Information, Kuaishou is currently valued at approximately US$50 billion.
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