KEY STAT | Short video app Kuaishou becomes fourth-largest e-commerce platform in China

Riding on China’s booming livestreaming e-commerce wave, short video app Kuaishou has seen online shopping orders generated on its platform exceed 500 million in August, reported 36Kr. 

The whopping orders made Kuaishou the fourth-largest e-commerce platform in China by total order volume in the past 12 months, after Alibaba (NYSE: BABA; HKEX: 9988)’s Taobao & Tmall, JD.com (NASDAQ:JD; HKEX: 9618) and Pinduoduo (NASDAQ: PDD).

Boosted by the COVID-19 outbreak, livestreaming e-commerce in China is in its heyday. In July, Kuaishou claims to have more than 170 million daily active users (DAUs) on its livestreaming service—with e-commerce streaming sessions surpassing 100 million DAUs, KrASIA reported.

The Tencent-backed app has a 2020 sales goal of USD 37 billion in mind, whereas rival Douyin set a target of USD 29 billion.

More on Kuaishou’s livestreaming e-commerce business please read: Short video platform Kuaishou unveils ambitious new e-commerce targets amid livestreaming boom

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.