5Y News | Kuaishou, a 5Y Capital portfolio company, lists on the Hong Kong Stock Exchange. Congratulations to Kuaishou!
Here's to Kuaishou — may it thrive endlessly, connect all things, and create more beauty and order!
On February 5, Kuaishou (stock code: 1024.HK) listed on the Main Board of the Hong Kong Stock Exchange via a "cloud gong-striking" ceremony. As the first Hong Kong-listed content community and social platform built primarily on short video and live streaming, Kuaishou opened at HK$338, up 193% from its IPO price, corresponding to a market cap of HK$1.39 trillion.
From left: Yixiao Cheng, Hua Su, and Fei Zhang
Fei Zhang, Partner at 5Y Capital, said: "Yixiao and Hua Su joined forces to pioneer the era of mobile short video. In this era, mobile short video is transforming the daily lives of nearly every person on the planet. Everyone is being connected and interacting; history, present, and future are all being recorded and shared here.
5Y Capital was incredibly fortunate to participate in this massive social experiment from the very beginning, growing alongside hundreds of millions of 'lao tie' [devoted users] and experiencing the happiness and beauty of this vast world. On the occasion of Kuaishou's IPO, we wish Hua Su and Yixiao's team all the best, and we wish Kuaishou endless vitality, universal connection, and the creation of more beauty and order."
Yuan Ye, Partner at 5Y Capital, said: "The world needs more creation and invention. Kuaishou has long focused on and enabled the creativity of every individual. Faced with enduring power, you feel peace rather than excitement; growth happens naturally. Our best wishes to Kuaishou."
The story between 5Y and Kuaishou began in 2011. That year, we held extensive strategic discussions internally and concluded that, from the camera's perspective, smartphones were the most likely platform to give rise to social media with rich media characteristics. Yuan Ye, now a partner at 5Y Capital, was then a newcomer to the industry. He found Cheng Yixiao, creator of GIF Kuaishou, on Weibo and established contact with Yixiao via email.
In 2012, on Fei Zhang's recommendation, Hua Su joined Kuaishou and brought in machine learning-based recommendation algorithms. An extreme product manager and an extreme tech geek joined forces to pioneer the era of mobile short video.
We were fortunate to have the opportunity to invest continuously across six rounds starting from the angel round, participating in and witnessing Kuaishou's growth from a tool into a comprehensive ecosystem. Our congratulations to Kuaishou once again!
5Y Capital will, as always, seek out and stand by the best entrepreneurs of this era, supporting them with all our might and believing in them without reservation. We believe that no matter how crazy a person may seem, they deserve to be seen; no matter how crazy an idea may seem, it deserves to be tried. If the you who seems crazy in others' eyes begins to be believed, the world will become a different place.
P.S. Fei Zhang and Yuan Ye, the two partners at 5Y Capital, recently had a candid conversation with Hua Su, co-founder, Chairman, and CEO of Kuaishou, openly sharing insights from their investment and entrepreneurship journeys, as well as some shared experiences and stories between them. The full content will be published soon on our WeChat official account, video channel, and Kuaishou account. Follow us on Kuaishou: 5Y Capital (ID: the5ycap)
5Y Capital (formerly Morningside Venture Capital) currently manages approximately US$3 billion across USD and RMB dual-currency funds. We believe that if the you who seems crazy in others' eyes begins to be believed, the world will be a better place.
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