The Latest Breaking News from Kuaishou

AI startup Odyssey, cofounded by Cruise and Wayve alums, emerges from stealth with $9 million in venture capital funding

Blame the U.S. and its export controls blocking AI chip sales to China.

Key Takeaways: Bilibili’s first-quarter revenue jumped by 30%, but a big rise in operating costs swelled its net loss by 152% The company made progress on commercialization as monthly users who pay for its services rose above 27 million in the quarter, with a paying user ratio of 9.3% By…

Key Takeaways: Kuaishou’s adjusted net loss narrowed in the first quarter, but its ad revenue came under pressure during China’s latest Covid containment measures

Key Takeaways: Newly announced rules will ban minors from tipping their favorite livestreaming hosts and outlaw tip rankings Big platforms like Kuaishou have more balanced tipping structures and diverse revenues, meaning they could suffer less from the new policy than smaller rivals

China drafted new regulations to cap internet users' daily monetary spending on digital tipping as a part of a renewed crackdown on the $30 billion live-streaming industry, the Wall Street Journal reports. China also looked to set a daily limit on live-streamers earnings and tighter censorship over the content. The report…

Meituan (OTC:MPNGY), famed as the "Amazon.com Inc (NASDAQ:AMZN) of services" in China, looked to expand its bouquet of services, tech node reports. The giant service app, whose services ranged from food delivery to travel booking, expanded to selling physical goods akin to Amazon. Meituan's latest move fired up rivalry against China's domestic retail…