China’s Kuaishou to end services of short video app Zynn

FILE PHOTO: The logo of Chinese video-streaming startup Kuaishou is seen in Beijing, China May 10, 2017. Picture taken May 10, 2017. REUTERS/Stringer

ByteDance rival Kuaishou Technology said on Wednesday it would stop services of its short video app Zynn, operated in the United States, on Aug. 20.

The company’s other products for markets outside China will not be affected, Kuaishou said in a statement. “Our strategy for the international markets remains unchanged,” it said,without providing a reason for Zynn’s shutdown.

Apart from Zynn, for markets outside China, Kuaishou operates Kwai, which is mainly popular in South America, and Snack Video.

A reward system that offers users cash or gifts for signing up and referring friends helped Zynn to top U.S. app download charts last year.

The Tencent-backed short video apps developer also operates the Kuaishou app and competes with ByteDance’s Douyin for the Chinese market.

Reuters

 

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.