Kwai, the short format video application daughter of the app china Kuaishou, announced his arrival in Mexico to begin his expansion to Spanish-speaking countries and take part in a market in which companies such as your conacional participate TikTok; Instagram reels or attempts YouTube for fully entering this format, among many others.
According to Keith Hernández, director of Kwai in South America, a good part of the 5.4 billion dollars that Kuaishou raised in its recent Initial Public Offering (IPO) on the Hong Kong Stock Exchange will be used mostly for the expansion process, with a special attention in Brazil and several Spanish-speaking countries in Latin America, such as Mexico, Colombia and Argentina.
For Hernández, Kuaishou is not only a platform for short videos, it is also an entertainment platform. In China, the app has 300 million daily active users, each of whom uses it an average of 90 minutes a day. The app also has live streaming and e-commerce options and is Douyin’s main competitor, the Chinese version of TikTok.
“What we are launching in Mexico and Latin America today is Kwai, which today is a short video application as its primary format, but we also have live broadcasts and soon we will have other functionalities that are closely related to being an entertainment platform. ”Hernández said in an interview.
In this first stage, Kwai is working in Mexico to build a network of content creators that already reaches 1,000 Mexicans, who will be the first to be rewarded financially for the content they generate on the platform. With the official launch of the application, this April 21, Kwai seeks to get more creators to join its network.
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