Kuaishou
快手
Kuaishou is a Chinese short-video and livestreaming company that in elsewhere's corpus shows up mainly through its pivot into AI. Its video-generation model Kling AI launched publicly on June 6, 2024 and quickly became a new revenue line — cumulative Kling-related revenue passed RMB 100 million by early 2025, with daily video generation exceeding 30 million clips and AIGC marketing-material spend running at RMB 20–30 million per day . That bet, per 十字路口Crossing's coverage, helped drive its stock up roughly 50% in 2024 to a market cap near HK$250 billion, on top of RMB 72.4 billion in online marketing revenue (+20.1%) and RMB 1.39 trillion in e-commerce GMV (+17.3%) for the year — reframing the company from its old "grassroots / 老铁" image into what it now pitches as a genuine AI tech company . The entity records here also note it received early investment from Cao Xi , though elsewhere's corpus doesn't go deeper into its founding history or cap table.
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Coverage
A 3-Hour Interview with Juanjuan: From Douyin to AI 3D, the Entrepreneurial Roller Coaster, the Ambition to Become a Manufacturing OS, and Why Foundation Models Won't Swallow Everything!
Qiming Venture Partners' Alex Zhou: Riding the Tech Wave to Find AI's Commercial Inflection Point | WAIC 2026
Stick to the "half-step ahead" investment methodology, and only invest within your circle of competence.
Gen Alpha Is Embracing 'Brainrot,' and Douyin Is Already the Previous Generation's Product | 100 'Social Product' Hot Takes from Wapoo Founder Yang Mingyu
"My ambition is to build a product with 330 million daily active users. Why not?"
Arise, Agents Who Refuse to Be Slaves
AI Loves Philosophy, Not Beautiful Women
After Leaving ByteDance and SenseTime, He's Building a Real World for AI
Let AI grow and evolve freely in real society.
Four Days at ICML Seoul: Models Are Eating Everything Faster Than Anyone Can Find Their Footing | Xing Meng, 5Y Capital
In July 2026, Xing Meng, partner at 5Y Capital, traveled to Seoul for ICML, where he engaged in deep conversations with researchers and founders on the front lines of the global AI industry. This article presents a selection of his firsthand observations after returning to China.
A Conversation with PixVerse Co-founder Xie Xuzhang: When Video Foundation Models Enter the Final Stretch
The Era of Everyone-as-Director Is Almost Here
Shengshu Technology Diagnosed With Duck Leg Overdose
If you had to pick the most orthodox Tsinghua-affiliated AI startup, Shengshu Technology would be it: all three founders are from Tsinghua, all from the same research group, still physically on campus — essentially a university lab doing corporate tech transfer. Gripped by my own pathological worship of meritocracy, I dutifully tried their product Vidu, and came away thinking: folks, we've had one too many goose legs. Because looking at their model capabilities, product positioning, and marketing strategy, the student energy here is absolutely off the charts — it's completely maxed out.
Monolith's Xi Cao Named to Forbes 2026 Midas List
Made the list for two consecutive years on the strength of investments in MetaX, Unitree, and other companies.
Keling AI in 4K Couldn't Revive the Brutal Underclass Story
Suggest releasing in 480P
Exclusive Interview with LimX Dynamics Founder Wei Zhang: Embodied AI "Isn't Competitive Enough," World Models, and Robot Brains
Demystifying the "World Model"; "You Can't Win If You're Afraid to Lose"
A Few Strange Things About AI Interactive Content
It's not enough to ride a big wave to win big.
Qiming Venture Partners' Wang Shiyu: AI App Explosion Needs a Huge Business Model Overhaul
The real explosion of consumer-facing AI applications may require a massive shift in business models to make it happen.
Xiaohongshu's Youngest Business Unit Head Strikes Out on Her Own, Using AI to Reimagine "Grass-Seeding"丨début
No more speculation, no more spectating.
HappyHorse 1.0, your happy little pony is now online
Happy Pony, on Qwen.
A One-Person AI Short Drama, Six-Figure GMV in 72 Hours
AI Levels the Content Playing Field, YourChannel Rewrites Distribution
Code Moment | Sand.ai Closes New ~$50 Million Funding Round, Doubling Down on Product + Model Dual-Track Strategy
Audio-driven video, dual-engine monetization reaching eight-figure ARR.
The Sora Shutdown: AI Enters the "Brutal Reckoning" | Yunqi Tech π
The Disappearance of a Viral Hit
Hello, the Great Age of AI Entrepreneurship — Pony Ma, Yiming Zhang, and the Day 0 Moment of 21 People
The era rewards those who bravely take half a step forward through the fog of Day 0.
Seedance 2.0 Puts ByteDance's AI Soul in Motion
The Era of Grand Reference Is Here
ONE2X Closes Series A, Officially Launches Conversation-Centric Video Creation Tool Medeo | Unity Ventures Portfolio
At Medeo, Talking Your Way to a Great Video
When AI Starts Using Phones Like Humans
From Doubao to StepFun's Step-GUI: Smartphones Are Becoming AI's New Entry Point
Dancing with Love: Zhang Huaiting on Serial Entrepreneurship — Why Education Deserves Another AI Makeover | Tsinghua Campus Tour
At a technological inflection point, you have to throw yourself in to seize the era's opportunities.
Monolith Raises $488 Million in New Funding
Assets under management exceed 10 billion RMB.
When Two "World Number Ones" Appear at the Same Time — Written After Hunyuan and Keling AI Both Claimed the Global Top Spot
What a time to be chasing each other!
Changing Every Today for Tomorrow | 5Y News Monthly
The big news from last month.
Qiming View: Technology Grows Upward, Applications Take Root Downward — Releasing the AI Resonance Cycle and Top 10 AI Predictions for 2025
This year, AI has entered a "resonance cycle of technology and application." On one hand, the technology continues to grow rapidly upward with no obvious ceiling in sight. On the other hand, it has become "good enough" in terms of performance and cost for large-scale deployment to take root and grow solidly, like tree roots digging deep — creating massive value in the process.
WAIC Observations: Spatial Intelligence in Rough Seas, Everyone Is Looking for the Same Thing
There's a kind of AI that can preserve love.
In China's Most Cutthroat AI Coding Race, He Bets on China First to Build the Industry's Pinduoduo | A Conversation with Wuxin, Founder of CodeFlying
CodeFlying's users are middle-aged fishing enthusiasts, water delivery guys from the neighborhood, pork shop owners...
Interview with Xiaobai Founder Li Yan: AI Is a Brute-Force Aesthetic; Small Can't Be Beautiful
How to engineer and harness emergence is the defining thread of our era.
Starting from Five Investments in Manus's Red Xiao: A Conversation with ZhenFund Partner Yuan Liu on How His Read of People Has Evolved
I think the market is at its best right now.
5Y Capital's Kai Liu: The Hype Is Just Surface Noise — AI Entrepreneurship Is Only Just Beginning | 5Y View
The real paradigm shift and structural opportunities are only just beginning to emerge.
Interview with Nooka's Kai Tang: A Post-'95 Generation Rewriting Kant with AI, How New Platforms Will Redefine Creators | 100 AI Creators
Whoever can define the new creator will build the next-generation content platform.
Xi Cao of Monolith Named to Forbes 2025 Midas List
First-time appearance on the list thanks to early-stage investments in Kuaishou and Unitree
Conversation with YouWare's Ming Chaoping: They're Skeptical That AI Coding Is a New Form of Creation — and I'm Thrilled | Z Talk
The promising AI product founder chose a path few others dared to take.
"After Putting Down the Hammer Looking for Nails, We Made Our First Million Dollars" | A Conversation with Mootion Co-Founder Tong Chao on Product-Making, the AI Video Startup Landscape, and Going Global
Stop looking at the hammer and look at the nail.
The World Is Bigger Than the Logic Right in Front of You | 5Y News Monthly
The big news from last month.
Keling AI Enters the 2.0 Era in Full Force — Kuaishou Finds Its True North at the "Commercial Crossing"
Keling AI has once again redefined the boundaries of AI-powered creation.
When JD.com, Xiaohongshu, Kuaishou, and Pinduoduo All Stand at the "Crossing" of the AI Era
"Either play or get left behind!"
No matter how the world changes, *Dark Tide* turns three.
Before the sun rises, Anyong will keep searching for answers alongside all of you.
"Kuaishou, who are you? Where did you come from? Where are you going?" | After AI generated 100 million in revenue, Kuaishou's path forward and ambitions
When "rural-chic" meets cutting-edge tech, and "lao tie" embraces AI innovation.
Miracles Come from Perseverance | 5Y News Monthly
The big news from last month.
2025 Kickoff Conversation: The Critical Year for AI, The Dawn of the Agent Era | A Conversation with ZhenFund's Yusen Dai
"You couldn't have built Douyin in the BlackBerry era."
January: Arriving at the Realm of Infinity | 5Y News Monthly
The big news from last month.
Code View | Consensus and Non-Consensus: From Models to Applications, Looking Back and Ahead at 2024 AI Trends
Adapting to Change
After Raising Hundreds of Millions in Funding, Mei Tao on How This Generation of AI Entrepreneurs Should Build
When the wave comes, jump with it.
The AR path is grueling, but Xu Chi still wants to know what the finish line looks like | WAVES
Those without ideals don't grieve.
A Conversation with Li Xiang: Throwing Questions at Someone Who's Always Asking
Reflections of a Lifelong Business Journalist
Why Are the Two Founders Who Found PMF Still Anxious? | A Conversation with Jisi Tech and Talk AI
Always feeling the company is growing too slowly, always anxious, always staring into the abyss, chewing glass.
A Scientist's Attempt to Become a Better CEO | WAVES
Starting another company.
Surviving 12 Years in the Cracks: How He Finally Built China's Most Active AI Product | WAVES
Fighting back from the brink.
Yuan Liu of ZhenFund: What Kind of Entrepreneur Stands Out in This Era? | Z Talk
Great investors recognize patterns; great founders break them.
September: Stay Deliberately Curious | 5Y News Monthly
The big news from last month.
Becoming China's Most Daily-Interaction Heavy AI Company: 15 Things MiniMax Got Right
There are two optimistic signals regarding large language models.
Kuaishou Launches New AI Product "Spaceship" — Can It Take Off?
"Doubao Takes a Spaceship, Kimi Plays with Hailuo AI"
Yunqi Research Select | Mid-Year AI Industry Review: Ten Hopes and Heartbreaks in the Year of Implementation
How Does the Balance Between Cost and Effectiveness Tip?
Chuan Wang: With 5 Billion Yuan Raised, I'm in the Top Three
The straight-A student's life has been one long winning streak.
"Who's even using OpenAI anymore? Everyone's on Claude Sonnet now!"
What goes around comes around.
Jensen Huang: I Really Can't Do Without China
NVIDIA's projected total sales in China this year: $12 billion
Thank God, AI companies are finally turning to idol celebrity endorsements for marketing.
A new trend.
Confidence Is Tomorrow's Trailblazer | 5Y News Monthly
The major events that happened last month.
5Y Capital's Kai Liu: The Evolution of Tech Supply Chain Investing | 5Y View
Three Ecosystems of Hard Tech Investment
Change Begins with What You See | 5Y News Monthly
The big news from last month.
April: Growing Upward | 5Y News Monthly
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Goodbye to a Decade of Venture Capital | Waves' Second Anniversary
Keep moving forward. Don't look back.
The beginning of a miracle often lies within the thing itself | 5Y News Monthly
The big news from last month.
Li Xiang × Li Feng: In Waves of Technological Change, Why Is Gaming Usually the First to Make Money? | Li Feng Column
From a Brief History of Gaming to New Online Game Regulations: Finding Innovation Opportunities in the Industry
You Yourself Are the Newest Year | 5Y News Monthly
The big news from last month.
January, a Fresh Start | 5Y News Monthly
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AI Thinking Part Three: One-Year-Old vs. Eighteen-Year-Old AI | VOICE
The best way to predict the future is to create it.
Greatness Is Built One Moment at a Time | 5Y News Monthly
The big news from last month.
September, Sprinting on the Cloud | 5Y News Monthly
The big news from last month.
The Indefatigable Zheng Xuanle
The Dividend Generation and Those Who Get Their Hands Dirty
Entrepreneurship is a climb where the journey itself is the reward.
The journey is the reward.
August: Keep Pushing Forward | 5Y News Monthly
The big news from last month.
Monolith's Xi Cao and His Eleven Musketeers
Starting a business is like climbing a mountain — the meaning lies in the climb itself.
July: The Courage to Keep Believing | 5Y News Monthly
The big news from last month.
Rhythm and Structure in Investing
"For the Way, reduce daily; discard the false, keep the true."
June, the World's Childhood | 5Y News Monthly
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AI Reflections, Part Two: The Open Cards and Hidden Cards in AI | VOICE
Consensus and Non-Consensus in AI.
Why Are Vector Databases So Important in the Era of Large Models? | Yunqi Capital ChatGPT Special
Milvus & Zilliz Become OpenAI's First Batch of Invited Partners
January: Toward Broader Horizons | 5Y News Monthly
The big news from last month.
Beyond What Meets the Eye | 5Y News Monthly
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Boundaries are often pushed in extreme environments | 5Y Adventure x Wilderness Survival
Facing fear head-on, entrepreneurs are far more resilient and formidable than we imagine.
Source Code Capital | Belief-Driven Founding Teams Cut Through the Noise
MaKe | Belief Leap Live: Starting Up Inside a Big Tech Firm vs. "Real" Entrepreneurship, Actually Pretty Different
Database startup **Chengzhang Data** has raised tens of millions of RMB in an angel round led by **Linear Capital** | Linear News
Linear Capital director Zheng Can said: "Data analytics and management platform software, with databases as a representative category, is a thriving market with enormous potential, but at the same time it is also..."
No Fear of a Long and Difficult Road | 5Y News Monthly
The big news from last month.
The unthinkable is precisely what can be thought. | 5Y News Monthly
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July: Seeking Vast Possibilities | 5Y News Monthly
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5Y Capital Wins Multiple Awards at the ChinaVenture 2021 Annual Rankings | 5Y News
5Y Capital continues to seek out, support, and stand by exceptional founders.
Investment, People, Life | 5Y Capital Pub Vol. 7 x This Is Sound Life
A serendipitous journey, moments that left me in awe of founders, and bits of life along the way.
The world begins anew each day in a light that is forever fresh. | 5Y News Monthly
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March, Exploration and New Frontiers | 5Y News Monthly
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2022, the Door Opens to the Future | 5Y News Monthly
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5Y News | Cloud Security Community "FireLine Security" Closes Two Consecutive Funding Rounds
New Models for Security Products
November: Foresight and Boundless Imagination | 5Y News Monthly
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October is full of hope and fervor | 5Y News Monthly
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Today, how can brands become "family" with 300 million "laotie" on Kuaishou?
Source Code Capital Consumer Portfolio Companies × Kuaishou E-Commerce Private Session
A Conversation with Qin Liu: An Investor Needs the Coolest Head and the Wildest Heart | 5Y Talk
Entrepreneurs of this era are a band of mad explorers.
The Important Thing Is the Continuous Accumulation of Every Moment | 5Y News Monthly
What were the major events last month?
Seeking Pioneers at the Frontier of Technology | 5Y Capital's 3Sigma Bootcamp Opens Global Recruitment
A collision of ideas and hands-on practice spanning technology and business — register now to join.
The past has become the future, the future has become the past, and both have become the present | 5Y News Monthly
What major events happened last month?
12 New Trends and 12 New Growth Models in Global B2B for 2021 | Ronghui B2B Growth Camp
A look at the latest trends in the post-pandemic B2B market, and the growth strategies behind high-growth B2B companies overseas.
Enterprise interactive learning platform UMU announced the completion of a Series C2 financing round worth over 100 million yuan, with 5Y Capital as the investor | 5Y News
Help companies transform performance and productivity through learning.
The Best Is Always Ahead | 5Y News Monthly
Happy Labor Day!
April, When All Things Grow | 5Y News Monthly
Looking back at last month's big events, ready to take on Q2 with full confidence.
To Better Kick Off March | 5Y News Monthly
The major events of February.
5Y Talk | A Conversation with Kuaishou's Hua Su: The Foundational Principle Is Altruism
On Adventure, Perception, and Inspiration.
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!
5Y News | Vastai Technologies, a high-performance intelligent vision chip design company, announced the completion of a $50 million Series A funding round.
Vastai Technologies has completed a $50 million Series A financing round, with 5Y Capital co-leading the investment.
5Y View | Zhang Fei of 5Y Capital: Stray Dogs, Missionaries, and Gods
Life's experiences are a personal practice — and every one of us is on that path.
5Y News｜Influencer E-commerce Service Platform "Mokuai Technology" Closes Hundreds of Millions of Yuan in Series C+ Round
Social commerce service platform Mokuaan Technology recently completed a Series C+ round of several hundred million yuan, co-led by Eastern Bell Capital and 5Y Capital.
Morningside-backed LifeTech Scientific raises over RMB 1.2 billion in new funding round | Light Moments
China's new drug R&D is undergoing a "Cambrian explosion." The industry's underlying infrastructure for pharmaceutical innovation is one of the core sectors we're tracking in healthcare.
5Y Capital Completes First Close of New RMB Fund | Light Moments
Recently, 5Y Capital completed the first closing of its second RMB-denominated fund.
5Y Capital's Xutian Jing: ITBT Sector Has a Promising Future, Poised to Produce a New Breed of Pharma Companies with Strong Cash-Generation Capabilities | Light View
ITBT is a long game, but when it succeeds, its contribution to human society is immense.
The Triumph of Long-Termism: Morningside Recognized with Multiple Honors in 36Kr's "Most Founder-Friendly" and "Most LP-Trusted" Awards | Light Moments
On August 26, 36Kr's 2020 China Investor Future Summit was held in Shanghai, where the 2020 investment institution rankings were released, including:
Xpeng Motors' IPO: Key Moments We Know About | Light Moments
A new beginning, a new journey, a new chapter — congratulations to Xpeng Motors!
Morningside-backed XYZ Robotics closes nearly $20 million Series A+ round | Light Moments
Morningside-backed portfolio company XYZ Robotics has closed a nearly $20 million Series A+ round.
The Collision of AI and Pharmaceuticals: Galaxy Pharma Tech Raises Nearly $10 Million in Funding | Light Moments
Galixir announced the completion of a nearly $10 million Pre-A funding round. The round was co-led by Source Code Capital and DCM, with 5Y Capital participating as a follow-on investor. Gaorong Capital, the lead investor in the company's angel round, continued to increase its stake.
Morningside Partners with Agora to Launch RTE 2020 Startup Competition, Hunting for the Next Real-Time Internet Unicorn | Light View
Who will be the next unicorn in the real-time internet space? The RTE2020 Real-Time Internet Startup Challenge is waiting for you!
5Y Capital's Qin Liu and Fei Zhang Named to PEDaily's "TOP100 Investors" List | Light Moments
On August 12, PEDaily, China's professional portal for entrepreneurship and investment under Zero2IPO Group, jointly released with Zero2IPO Research the authoritative **2020 "Investment TOP100" investor ranking** — with Qin Liu, Founding Partner of 5Y Capital, and Fei Zhang, Partner of 5Y Capital, both making the list.
Tribute to the Unstoppable Force | Light View
A tribute to the unstoppable force.
Before Mastering Taobao, Douyin, and Kuaishou Marketing Tactics, Learn Product and Data Thinking First | Ronghui
In the wave of data-driven marketing, marketing has become product and operations.
A Visual Guide to How New Platforms Are Born | Li Feng Column
The Importance of Datafication to Platform Ascendance
Equipping Autonomous Driving, Robotics, and Virtual Entertainment with Brains... How Intelligent Agents Are Reshaping the Future | Ronghui
Five Tech Leaders Discuss: How AI Agents Cross from Virtual to Physical to Bring Greater Benefits to Humanity
Where Does Live E-Commerce End? | Frees Fund
Live commerce is the outcome, not the goal.
Strategic Thinking on Douyin Marketing for Consumer Brands | Code Brain No. 12
Guest: Le Kang, Founder & CEO of Buff Technology, former head of Douyin's Brand Studio department, and former Brand Director at NetEase Yanxuan.
Richard Liu: As the Pandemic Enters Its Global Second Half, How Can Chinese Startups Seize Antifragile Growth Opportunities
Ten Growth Tips for Founders
Liu Xinhua: How to Crack the Growth Code for Products in the Second Half of the Internet Era | Gaorong Ventures Share
A 10,000-word transcript systematically breaking down the four modules of the growth model — clarifying principles, seizing momentum, refining tactics, and reading people.
200,000 Users Love Watching People Jump on Fridges Late at Night — Who's Paying Attention to Short Video? | FreeS Fund Business School
Who's watching short videos?
