![]() At the time, Tencent said it would reposition WeiShi to focus on film and TV content, helping distribute Tencent’s licensed content. In 2017 it invested $350M in Kuaishou, and it revived WeiShi in April 2018. Seeing the rise of Douyin, Tencent realized that growth in text and photos has stalled, and the future lies in micro-sized, digestible videos. Tencent soon after abandoned the app, overlooking the potential of short videos, just a year before Bytedance launched Douyin. In 2015 it was merged into the Tencent Video division. WeiShi’s user numbers peaked in early 2014, but its popularity quickly waned. Other early players in the market were apps like Miaopai and Meipai. At the time WeiShi was more like Vine, enabling users to create 15-second videos with added effects. In these days of fierce competition between Douyin, Kuaishou, and WeChat Channels it’s easy to forget that Tencent was actually one of the very first companies that offered a short video app.īack in 2013, when WeChat was seeing explosive user growth from less than 200 million to 355 million, Douyin didn’t exist yet and Kuaishou had just transformed from a GIF-making app to short video, Tencent launched a stand-alone video app called Weishi (微视, ‘WeVideo’). To understand Tencent’s initiatives in short videos, we have to go 10 years back in time. Is it really happening? Watch the video here. Rui was recently interviewed by TBVS News about US-China Tech Decoupling. If you are wondering why Zhang has recently been leading the cloud business, read our recent report on Alibaba Cloud. Download it here as a PDF.ĭaniel Zhang will continue to head up both the cloud intelligence division and continue to run the parent company. We've made a little cheat sheet of the new holding structure for you. Alibaba will have a 1+6+N structure: 1 holding (Alibaba Group), 6 business units but also N separate businesses, including Ali Health, Hema, Sun Art, Intime, etc. This is clearly a defense against Douyin's initiatives in local services in the past years.Īlibaba this week announced that it would split up into six different companies, some of which might see IPOs in the future. It is also testing live-streamed product introductions in Shenzhen, to be rolled out country-wide later. Meituan is also introducing a new marketing tool, Shenqiangshou, that lets merchants launch limited-time deals. Meituan’s marketing expenses also increased 22.7% YoY, exceeding the growth rate of revenue (21.3% YoY). As a result, Meituan has been giving discounts on advertising prices. Meituan’s income from commissions increased by 13.7% YoY, but income from advertising dropped 4.8% YoY due to competition from Douyin. ![]() Merchants have been shifting advertising budgets from Meituan to Douyin. Last week 36Kr reported (link in Chinese) how Meituan’s Q4 report sheds some light on the impact. Two weeks ago we published an extensive article about Douyin’s local services initiatives.
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