Chinese Photo-Sharing App Kuaishou Denies Report of IPO in US
Yicai Global
/SOURCE : Yicai
Chinese Photo-Sharing App Kuaishou Denies Report of IPO in US

(Yicai Global) Feb. 7 -- Kuaishou Technology Co., a USD3 billion Chinese company that developed a popular photo-sharing app, denied a report that it plans to go public in the US in the second half.

Kuaishou rejected the claim, made in an article published by US science and technology blog TechCrunch, saying it has no idea about the source of the information. The Beijing-based company's focus on optimizing product experience and serving more groups remains unchanged, it said in a statement today.

Kuaishou.com has secured investment from Sequoia Capital LLC, DST Investment Management Ltd., Baidu Inc. and DCM Ventures, TechCrunch reported.

Called Kuaishou in China and Kwai in the US, the app is similar to Instagram in that it presents photos and videos on its homepage. It has over 40 million daily active users in China and monthly numbers reaching 100 million.

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