Deals
Tencent-Backed Kuaishou, Baidu Invest $434 Million in Zhihu
- Baidu to add Zhihu’s online Q&A content to its main mobile app
- Deal may help Baidu and Kuaishou compete with ByteDance
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Zhihu, China’s answer to online Q&A service Quora, raised $434 million from investors including some of the country’s largest social media companies and the leading search service to bankroll its expansion.
Kuaishou, one of the biggest live-streaming platforms, led the investment in Zhihu, according to a statement from China Renaissance Holdings Ltd., which advised on the deal. Zhihu, whose name means “know?” in Chinese, also snagged search giant Baidu Inc. as a new investor. Existing backers Tencent Holdings Ltd. and Capital Today also invested in the new round.