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Former Google employee turns virtual gifts into a $61 billion business


Former Google employee turns virtual gifts into a $61 billion business
Video-streaming app Kuaishou is pictured on a mobile phone
4 min read
Venus Feng and Zheping Huang
, Bloomberg
While virtual gift purchases are still its bread and butter, Kuaishou is delving deeper into higher-margin businesses like e-commerce and online gaming
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In China’s popular online-streaming industry, virtual gift-giving is big. You can send your favorite live performer anything from a rose for 5 yuan (80 cents) to a space rocket for 500 yuan.
The present is just a symbol, but the money is real and that’s what’s made Kuaishou Technology so successful. ....

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