TikTok rival and Chinese short-video platform Kuaishou has reached 1 billion monthly active users worldwide, almost doubling the figure it announced last month.
On June 23, Kuaishou was announced as a rights-holding broadcaster for the 2020 Tokyo Olympics, as well as the 2022 Beijing Winter Olympics. The figures were revealed by Kuaishou CEO Su Hua at a press conference in Beijing.
In May, Kuaishou released its first-quarter financial results, which showed an average of 295 million daily active users and 520 million monthly active users. Kuaishou's active users spend an average of 99.3 minutes a day on it.
Kuaishou has been making a lot of moves in the sports content space recently. In March, it entered into a copyright partnership with CBA, allowing users to watch official CBA live content on Kuaishou.
By the end of this season's CBA, an average of 1 in 10 Kuaishou users had watched the CBA live stream, according to data released by Kuaishou.
The average monthly active users in Kuaishou's overseas markets exceeded 100 million in the first quarter, and the number grew further to more than 150 million in April this year.
On Feb 5, Kuaishou went public in Hong Kong, opening at HK$338 ($43.527), up 193 percent from its offering price.
Its market capitalization was HK$1.39 trillion (US$179.1 billion) that day, surpassing Jingdong's market capitalization (US$146.665 billion) and making it the fifth-largest listed company on the Internet in China.
Kuaishou shares moved higher after the latest user numbers were announced, currently up more than 5 percent to HK$198. But this is down more than 40 percent from its IPO price.