6/22/2023 0 Comments 2017 acfunThe deal valued Acfun at 1.85 billion yuan. agreed to buy a 13.51% stake for 250 million yuan (about $36.5 million at the time). According to data from Analysys, the number Acfun’s daily active users slid to 100,000 in January from around 700,000 in mid-2017.Īcfun’s most recently announced fundraising was in November 2016 when digital publisher Chinese All Digital Publishing Group Co. But Acfun has been under pressure over the past year due to strained finances, management shake-ups, copyright-violation concerns and other issues. in March launched a $400 million initial public offering in a New York. Launched in 2007, Acfun - dubbed “Station A” by netizens - was one of China’s top animation and video-streaming sites in China, targeting young users mostly born after 1990.Īcfun archrival Bilibili Inc. Kuaishou said Acfun’s brand, operation and management will remain independent after the takeover, while Kuaishou will provide support in capital, technology and resources. Kuaishou, backed by social media giant Tencent Holdings Ltd., announced the deal Tuesday without giving financial details. Chinese video-streaming startup Kuaishou has acquired rival online video platform Acfun amid heated competition in the country’s online-video service market.
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