![Acfun.](https://kumkoniak.com/24.jpg)
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- ACFun's losses last year exceeded $15.5 million (RMB100 million). The value of the deal was not disclosed, though local media has speculated that it was completed for less than $115 million (RM7B50 million). It is backed by social media and games giant Tencent, which operates Tencent Video, one of the big three generalist platforms. Kuaishou, recently valued at $18 billion, specializes in youth-friendly user generated short form content. And earlier this year its site went dark for a couple of weeks, apparently having failed to pay its server bills. It has had several run-ins with Chinese regulators over its content.
But it will need to lean on Kuaishou for capital and tech support.ĪCFun had been in the news for all the wrong reasons.
According to reports, it will retain its operational independence in branding and development. ĪCFun, which stands for animation, comics and fun, has been around since 2007. The move is part of the intensifying competition process among specialty streaming operators in China. Ĭhinese streaming video startup Kuaishou has acquired longer-established, but smaller rival ACFun. The move is part of the intensifying competition process among specialty streaming operators in. Chinese streaming video startup has acquired longer-established, but smaller rival.