BEIJING, Aug 4 (Reuters) – ByteDance rival Kuaishou Expertise (1024.HK) mentioned on Wednesday it could cease companies of its quick video app Zynn, operated in the US, on Aug. 20.
The corporate’s different merchandise for markets outdoors China is not going to be affected, Kuaishou mentioned in a press release. “Our technique for the worldwide markets stays unchanged,” it mentioned，with out offering a motive for Zynn’s shutdown.
Aside from Zynn, for markets outdoors China, Kuaishou operates Kwai, which is principally widespread in South America, and Snack Video.
A reward system that provides customers money or presents for signing up and referring pals helped Zynn to prime U.S. app obtain charts final 12 months.
The Tencent-backed quick video apps developer additionally operates the Kuaishou app and competes with ByteDance’s Douyin for the Chinese language market.
Reporting by Yingzhi Yang and Brenda Goh; Modifying by Jacqueline Wong and Barbara Lewis
Our Requirements: The Thomson Reuters Trust Principles.