Kuaishou Technology, the operator of China’s second-largest short video app, is expanding aggressively in South America and South-East Asia as the company seeks new growth outside its home market.
The company plans to spend US$1bil (RM4.11bil) to increase its overseas user base this year and has already spent US$250mil (RM1.02bil) in the first three months while TikTok, the rival global short video app owned by Beijing-based ByteDance, plans to spend a minimum of US$100mil (RM411.75mil) in Brazil without an upper limit, local media LatePost reported on Tuesday, citing people familiar with the matter.