What happened: Over 10 million users have made money on China’s top short video site Kuaishou over the past year, said company CEO Su Hua at the World Internet Conference held in Wuzhen. He added that over 130 million users are recording and sharing interesting moments of their lives on Kuaishou every day.
Why it’s important: Bite-sized videos are flourishing in China. While Douyin finds its users coming mostly from higher-tier cities, its rival Kuaishou established a more solid foothold in lower-tier cities and rural areas. More than just bringing fun, Kuaishou is increasingly a means for users in poverty-stricken areas to gain the extra income for the improvement of their well-being. There are lots of poverty-alleviating stories on Kuaishou with farmers earning more by selling fresh farm products or through ecotourism. The company has launched an entrepreneurship course for the initiative.