Kwai, the international version of Kuaishou, ranks first in Brazil’s free iPhone app store, while TikTok ranks fifth, according to data provider Sensor Tower. Rapid growth of Kuaishou’s overseas apps saw sales and marketing expenses surge to roughly 69% of revenue in the first quarter. — SCMP
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.
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