Shares of TikTok rival Kuaishou soar after biggest tech IPO since 2019

Kuaishou, a Chinese short-video and livestreaming app, raised $5.4 billion in its IPO. Its shares then nearly tripled in Friday trading, pumping the company’s valuation to $159 billion.Why it matters: It's the largest global IPO in over a year, and the largest global tech IPO since Uber in May 2019. Plus, it means Kuaishou is now valued just a TikTok short of rival ByteDance.Return on investment: Kuaishou has raised over $4 billion from firms like Sequoia Capital China, DCM, Morningside VC, DST Global, Baidu, Alibaba, Tencent, Temasek, Boyu Capital and Shunwei Capital. The bottom line: "Kuaishou's listing will be a test of appetite for Chinese technology firms just as Beijing steps up its scrutiny of the sector in areas from anti-monopoly to data protection. In November, the Chinese government introduced rules around live-streaming shopping, which could impact Kuaishou," CNBC's Arjun Kharpal writes.

Comments

Tech news

Sam Altman’s Start-Up Launches Eye-Scanning Crypto Orbs in the U.S.

Comments

Similar News

Why Jeff Bezos is looking to unload up to $5B worth of Amazon shares

‘Grand Theft Auto VI’ release delayed to 2026, sending shares tumbling

Duolingo launches 148 courses created with AI after sharing plans to replace contractors with AI

Facebook to restrict users from sharing news in Australia

Amazon shares slide on disappointing forecast, slowing cloud revenue

Amazon’s Mixed Earnings Report Sends Share Prices Down

Meta Platforms’ shares rise as revenue beats forecasts on boost from AI tools

Lyft CEO David Risher Says His Company Is Gaining Market Share Against Uber

Baby formulas now share some ingredients with breast milk

House Passes Bill to Ban Sharing of Revenge Porn, Sending It to Trump

Dr. Google Starts Sharing Regular Folks’ Advice As Chatbots Loom

Cyber attack forces M&S to stop taking orders online sending shares plummeting

China shares rare Moon rocks with US despite trade war

Shares of Google parent Alphabet jump as advertising growth lifts revenue to over $90B

China plans to build nuclear plant on the moon to power base shared with Russia

Warner Bros. Discovery's Max joins the password-sharing crackdown

Vatican's secret links to UFOs laid bare as Pope Francis' successor is urged to share 'the truth'

Scientists stunned to find chimpanzees sharing boozy treats together in world-first

Incredible photo shows wild chimps sharing boozy fruit for first time

Wild chimps filmed on the lash sharing around ‘boozy’ fermented fruit

Tech news

Sam Altman’s Start-Up Launches Eye-Scanning Crypto Orbs in the U.S.

What 6 Decision-Making Experts Tell Leaders About Making Smart Choices

Today’s NYT Mini Crossword Clues And Answers For Saturday, May 3rd

A 9th planet in our solar system might be found — and no, it’s not Pluto

Science meets shape-throwing in 'Dance your PhD' contest

The Trump administration says it will cut EPA staffing to Reagan-era levels

Today’s ‘Wordle’ #1414 Hints, Clues And Answer For Saturday, May 3rd

Google Confirms Chrome Update—Now Tracks All Your Devices

Sam Altman and Elon Musk are racing to build an ‘everything app’

Google is going to let kids use its Gemini AI

Trump Threatens NPR and PBS

Meta partners with film studio Blumhouse on chatbot used during recent movie screening

TikTok fined £452million for breaching EU privacy rules by sending data to China

3 Reasons To Stop ‘Over-Intellectualizing’ Emotions, By A Psychologist

ISEE And TICO Partner To Deliver Autonomous Yard Trucks To Customers

Ryan Garcia Vs. Rally Romero Results Full Fight Card Results

Google’s Gmail Warning—Upgrade Your Email Account Today

AI Startup Decagon In Talks To Raise $100 Million At A $1.5 Billion Valuation

Android Circuit: Galaxy S25 Edge Details, Snapdragon Flagship Revealed, Pixel 10 Pro Leaks

Apple Loop: iPhone 17 Pro Leaks, Apple Watch SE Details, iPhone 17 Release Dates

Here are the best AirPods deals you can get right now

Apple issues urgent warning to 1,800,000,000 iPhone users over popular feature

Ex-New Yorkers dish on why they moved to Florida for good: ‘People thought we were crazy’

A Business Leader’s Guide To Generative Engine Optimization (GEO)

What To Watch This Weekend: New Shows And Movies To Stream On Netflix, Hulu, Prime Video, Apple TV And More

Technicolor Grief—Food Dyes And The End Of America’s Neon Snack Era

Trump&#8217;s proposed budget deals another big blow to science, clean energy, and the environment

Inside Sam Altman’s eye-scanning crypto party

U.S. robot makers hope to beat China in humanoid race. Tariffs could affect their ambitions

Self-driving trucks start making the rounds in Texas

He let snakes bite him 200 times to create a better snakebite antivenom

Can Jack Dorsey Rescue Block’s Plunging Stock?

AI And Cybersecurity: The New Administration’s 100-Day Reckoning

Scientific societies say they'll do national climate assessment after Trump dismisses report authors

Apple is working with Anthropic on an AI coding tool for Xcode

In praise of a special little bag

Firefox could be doomed without Google search deal, says executive

Money Talks

TikTok fined $600 million for China data transfers that broke EU privacy rules

Co-op cyber attack affects customer data, firm admits, after hackers contact BBC

Scientists reel as turmoil roils National Science Foundation

Why Are People Adding Jalapeños To Their Sauvignon Blanc?

The Beginning Of The Self-Driving Freight Revolution

‘Quordle’ Today: Hints And Answers For Saturday, May 3

NYT ‘Strands’ Today: Hints And Answers For Saturday, May 3

More Than Half Of All EVs Remain Costlier To Own Than ICE Cars, Study Shows

2 Relationship Deal-Breakers You Shouldn’t Ignore — By A Psychologist

How to lock down your privacy in WhatsApp

You can still snag an Xbox Series X / S before Microsoft’s price hike fully takes effect

Android’s next big feature turns your phone into a desktop

Google Plans to Roll Out Gemini A.I. Chatbot to Children Under 13

Robert F. Kennedy, Jr., and the Confounding Politics of Junk Food

How Donald Trump Is Trying to Rewrite the Rules of Capitalism

Pick Three: Kraftwerk’s Best Tracks

Samsung is giving away FREE vacuum cleaners worth £1,199 in cheeky dig at rival

Why Jeff Bezos is looking to unload up to $5B worth of Amazon shares

Will iPhones See Price Hikes Because Of Tariffs? Apple CEO Tim Cook Comments

Trump’s proposed budget deals another big blow to science, clean energy, and the environment