Tencent is the largest shareholder of short-form video app developer Kuaishou, which is reportedly looking to boost its valuation to $50bn in a January offering.
Kuaishou, a China-based video sharing app developer backed by internet groups Tencent and Baidu, is planning to raise up to $5bn in an initial public offering in Hong Kong, Reuters reported today.
The offering could take place as soon as January 2021 according to people with direct knowledge of the matter, who told Reuters the company would seek a valuation of $50bn. People familiar with the matter confirmed the prospective valuation to The Information.
Founded in 2011, Kuaishou runs a…
