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English|Kuaishou Restructures Business in Bid to Boost Commercialization

English|Kuaishou Restructures Business in Bid to Boost Commercialization
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BEIJING, September 19 (TMTPOST) – Affected by the macroeconomic environment, China's short video platform Kuaishou is intensively restructuring its business to accelerate the commercialization process, Kuaishou announced on the evening of last Friday.
Cheng Yixiao, CEO of Kuaishou, will be in charge of the e-commerce business unit, and the original local life business was upgraded to an independent business unit.
This is just 42 days after Kuaishou last announced new personnel appointments. On August 5, Kuaishou set up a new management committee and launched organizational structure and personnel adjustments involving several units.
This is another large-scale personnel change following the integration and change of business lines at Kuaishouin in late September 2021.
After the above two organizational adjustments, the most intuitive change is that Kuaishou's chairman and former CEO Suhua's decision-making and management role in the company is being gradually diluted, while Cheng Yixiao's management function for Kuaishou's business, especially commercialization, is further strengthened. ,
The most prominent change in this personnel adjustment is that Kuaishou conducted a "cross-border" rotation again, with obvious differences between the new business leades’ previous experience and their new positions.
Cheng Yixiao, who was the senior executive in charge of the product before the company went public, is now directly responsible for the commercialization of the front-line business. The former head of the e-commerce business unit, Xiaogu, was transferred to the head of the local life business unit, and the reporting relationship with Cheng Yixiao remains unchanged.
【English|Kuaishou Restructures Business in Bid to Boost Commercialization】Multiple rounds of the pandemic at the beginning of the year dealt a blow to the commercialization of Kuaishou. The revenue pillar advertising business slowed down for two consecutive quarters, with a 3% year-on-year decline in the second quarter. Kuaishou's e-commerce GMV grew 31.48% year-over-year, a slowdown from 47.7% in the previous quarter, as offline logistics affected the effectiveness of performance in the pandemic control.

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