QuVideo — with huge foreign user base — raises $61 million ahead of IPO

Hán Shèng 韩晟, the CEO of QuVideo, “poses with foreign online celebrities” in Beijing. Say via China Daily.

Based mostly in 2013 in Hangzhou, QuVideo makes cell video-improving apps which personal turn into properly-most standard by customers birth air of China who need instruments to originate movies for TikTok and other video-sharing platforms. QuVideo presented (in Chinese) this week it had raised 400 million yuan ($61.24 million) in a series C spherical of financing. The company is furthermore making ready (in Chinese) for an initial public offering in China.  

Focussed on the out of the country market, QuVideo’s cell apps are amongst the most standard video-improving apps on Android phones.

  • VivaVideo, QuVideo’s flagship app, enables customers to load clips, easy movies, and add filters and particular effects in a storyline-model improving board on their cell phones.
  • Customers from over 200 international locations, 85% of whom are birth air of China (per Sohu, in Chinese), use QuVideo’s apps to edit movies for social media platforms, alongside with TikTok, Fb, YouTube, and WeChat.
  • CEO Hán Shèng 韩晟 talked about the company’s apps personal over 1.2 billion customers globally as of the principle half of 2020.
  • The pandemic accelerated user issue: The series of QuVideo’s out of the country customers elevated 47% between March and Might perchance perchance also simply this twelve months. As Western international locations entered lockdowns, QuVideo’s customers surged 68% in Europe and 48% in the U.S., in line with an interview with Han Sheng (in Chinese).

QuVideo faces allegations from out of the country researchers and government authorities of posing safety threats and conducting subscription fraud.

  • The Indian government in 2017 identified VivaVideo as either adware or “malicious-ware,” and banned the country’s navy from placing in it. VivaVideo is understanding to be some of the 42 standard Chinese apps in India, alongside with WeChat and Weibo, that were listed. QuVideo is now fully banned by the Indian government, alongside with several hundred other Chinese apps.
  • UpStream, a London-essentially based cell expertise company, reported that VivaVideo runs unfounded adware, triggers top class subscription purchases with out customers’ consciousness, and requests sensitive user permissions which could perchance be pointless for video improving, reminiscent of precise GPS location.
  • QuVideo did not reply to SupChina’s inquiry concerning these studies.

With new funding and the upcoming IPO, Han Sheng talked about QuVideo will proceed to amplify its world market, at the same time as other Chinese files superhighway firms like TikTok face hurdles in the U.S.

  • “TikTok’s ride is somewhat excessive, but actually, Chinese cell files superhighway firms are every often (all) facing difficulties when going out of the country,” Han Sheng talked about in an op-ed this August (in Chinese).

Luz Ding is a freelance journalist essentially based in Washington, D.C., covering China, U.S.-China kin, and the Korean Peninsula. She beforehand worked as a researcher for the Unique York Times in Beijing and a reporter for Caixin Media. Learn extra

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