Kuaishou979 Archives the operator of its eponymous short video platform, is currently undergoing its biggest organizational overhaul in a year, encompassing core business lines such as the main site, e-commerce, and commercialization sectors, as reported by the local outlet Jiemian on Monday. As part of this restructuring, the former local consumption department is poised to be renamed to reflect a shift in focus toward the real estate industry. This unit will now oversee real estate-related business, given Kuaishou’s robust performance in property promotions through livestreaming and short videos. In the last quarter alone, the company successfully sold RMB 14 billion in property, surpassing its full-year 2022 sales by RMB 4 billion, despite challenges posed by China’s real estate crisis. Additionally, the company plans to establish a new segment dedicated to the creator and content ecosystem, aiming to further support content generation within a profit-driven strategy, according to the report. [Jiemian, in Chinese]
