Kuaishou, one of the largest live streaming platforms, led the investment in Zhihu, according to a statement from China Renaissance Holdings Ltd., which advised on the deal.
China’s response to Quora’s online Q&A service raised $ 434 million from investors including some of the country’s largest social media companies and its leading search service to bankrupt its expansion.
The investments could help Kuaishou and Baidu gather more content and avoid competition from ByteDance Inc., which is moving to search and attract smartphone users to its popular video services and personalized news services.
Founded by code-turned-blogger Zhou, Zhihu has evolved over the past eight years to become one of the most popular social media platforms in China, renowned for its high quality Q&A for everything, from movies to football and foreign policy.
Zhihu is “known for its unique knowledge creation and sharing community,” Wang Lixing, a Renaissance managing director in China, said in the statement. “Cooperation between Zhihu, Kuaishou and Baidu will create great synergies and lay the foundations for long-term development.”/invevesting