Tencent-backed video sharing startup reportedly planning Hong Kong listing

Kuaisho is currently valued at about US$18b.

Reuters reports that Tencent-backed Kuaishou, a live-video streaming app is planning to list in Hong Kong at the second half of the year as it approaches its $1b funding target, according to sources familiar with the matter.

The latest funding round values the seven-year-old company at about US$18 billion and has attracted venture capital firm Sequoia Capital China, amongst other investors, the sources said. 

Kuaishou, meaning “fast hand” in Chinese, is boosting its firepower as live streaming in China has seen rapid growth, attracting a rush of investment led by tech heavyweights Tencent, Alibaba Group Holding and Baidu Inc who expect live streaming to boost their existing offerings in e-commerce, social networking and gaming.

Here’s more from Reuters: