Deals
Tencent-Backed Video Site Seeks $17 Billion Valuation
- Streaming app Kuaishou is trying to raise another $1 billion
- Chinese startup valuations are ballooning as money flows
Photographer: Qilai Shen/Bloomberg
This article is for subscribers only.
Tencent-backed Chinese startup Kuaishou is seeking to raise funds at about a $17 billion valuation, people familiar with the matter said, as it expands its video-streaming service to Southeast Asia.
The company is targeting around $1 billion of financing, the people said, asking not to be identified discussing a private deal. The startup’s desired valuation would be almost six times the $3 billion it garnered after its last fundraising in March, the people said.