Ex-Googler Turns Virtual Gifts Into a $61 Billion Business
- Kuaishou raises $5.4 billion in Hong Kong initial share sale
- Four shareholders will have combined fortune of $15 billion
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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.