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Singhan
2021-06-15

Ten-year-old Kuaishou, the mirror image of the world

2011年底，刚刚组队的小创业公司GIF快手，创始人程一笑在微博、豆瓣等平台发布了一则招聘信息：诚求UI设计师一位做创业伙伴，提供有竞争力的薪酬以及丰厚的股权。程一笑是豆瓣深度用户，当时他经常逛的两

Ten-year-old Kuaishou, the mirror image of the world

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":187230907,"tweetId":"187230907","gmtCreate":1623754769209,"gmtModify":1704210608526,"author":{"id":3585365602016782,"idStr":"3585365602016782","authorId":3585365602016782,"authorIdStr":"3585365602016782","name":"Singhan","avatar":"https://static.tigerbbs.com/3db174727ab43bc8cf21721989b03a69","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":1,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Nb</body></html>","htmlText":"<html><head></head><body>Nb</body></html>","text":"Nb","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/187230907","repostId":1186442864,"repostType":4,"repost":{"id":"1186442864","kind":"news","weMediaInfo":{"introduction":"有视角的商业资讯交流平台","home_visible":1,"media_name":"虎嗅APP","id":"101","head_image":"https://static.tigerbbs.com/98669fe7974e42f3976b3db47528792d"},"pubTimestamp":1623750513,"share":"https://ttm.financial/m/news/1186442864?lang=en_US&edition=fundamental","pubTime":"2021-06-15 17:48","market":"hk","language":"zh","title":"Ten-year-old Kuaishou, the mirror image of the world","url":"https://stock-news.laohu8.com/highlight/detail?id=1186442864","media":"虎嗅APP","summary":"2011年底，刚刚组队的小创业公司GIF快手，创始人程一笑在微博、豆瓣等平台发布了一则招聘信息：诚求UI设计师一位做创业伙伴，提供有竞争力的薪酬以及丰厚的股权。\n程一笑是豆瓣深度用户，当时他经常逛的两","content":"At the end of 2011, the small<a href=\"https://laohu8.com/S/V03.SI\">Startups</a>GIF Kuaishou, founder Cheng Yixiao in<a href=\"https://laohu8.com/S/WB\">Weibo</a>, Douban and other platforms released a recruitment information: We sincerely seek a UI designer to be an entrepreneurial partner, providing competitive salary and generous equity.Cheng Yixiao is a deep user of Douban. At that time, the two groups he often visited were \"IT Recruitment King\" and \"Graphic Designer\". The company was founded and the product started. This young man has an almost intuitive yearning for community and design.2011 was a turbulent year:<a href=\"https://laohu8.com/S/ZH\">Zhihu</a>It has just been established, and Meituan has only been online for a year. Station B has just changed its name to bilibili from its predecessor \"Mikufans\". With the vigorous development of mobile Internet, coffee shops in Haidian District are as lively as vegetable markets, and countless people are involved in them.Shortly after Cheng Yixiao's recruitment information was sent out, a UI designer joined GIF Kuaishou and became one of the earliest four employees. They live in a residential house in Aobei Community, Lishuiqiao, Haidian District, silently polishing this product.<img src=\"https://static.tigerbbs.com/6ce1483e15c5a30766ef7457ab4b0d79\" tg-width=\"1000\" tg-height=\"750\" referrerpolicy=\"no-referrer\">Ten years ago, the desk at the Aobei CenterYang Yuanxi, co-founder of Kuaishou, recalled that work and life were inseparable at that time, and four people worked shifts at noon every day to order meals. \"At that time, there were only seven restaurants downstairs. Basically, the seven restaurants were arranged in different orders.\"Maybe he couldn't stand such working and living conditions, or maybe he didn't have hope for the future of this small company. It didn't take long for the designer to leave GIF Kuaishou and passed by an era.No one could have predicted that many years later, this company would create the entire era of short videos, and after some ups and downs of development, it was listed on the Hong Kong Stock Exchange, with a market value of one trillion Hong Kong dollars at one time, becoming the fifth largest Internet company in China.So far, the other three early employees are still leading Kuaishou forward:Co-founders Cheng Yixiao, Yin Xin and Yang Yuanxi, together with Su Hua, who joined Kuaishou in 2013, form the background of Kuaishou's unique product.Ten years have passed in a blink of an eye, and countless companies have been lost in the big waves of the mobile Internet. In the ten years of Kuaishou, the weather was smooth and imminent. Under the pressure of strong competition, it finally tenaciously reached 300 million daily active users.<img src=\"https://static.tigerbbs.com/c39c2e4a9ed3d8016c44153dfc68ec2c\" tg-width=\"1080\" tg-height=\"1439\" referrerpolicy=\"no-referrer\">Kuaishou lands on the Hong Kong Stock ExchangeThis is a legendary story of ups and downs, and it is also a story of the past ten years<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>A typical sample of the evolution of Internet companies. Products, technology, operations, business, when a young company sets foot on a fertile soil ahead of time, and its accumulation does not match the huge opportunities it faces, how to survive, develop, persist, evolve, and make key and correct decisions, and then start a protracted war.Wind and cloud meetingShanghai, 2013. This afternoon, Zhang Fei, a partner of Morningside Capital, decided to meet the young man looking for investment.The other party graduated from Tsinghua University and worked in<a href=\"https://laohu8.com/S/GOOG\">Google</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Hold office. While having a rich resume, he is also a serial entrepreneur with a tough personality and full of energy.This is the second meeting between Zhang Fei and him. This young man named Su Hua is preparing to give up his entrepreneurial project and start more new attempts.According to Zhang Fei's recollection, Su Hua talked about more than 20 projects at that time. \"Many particularly interesting entrepreneurial ideas, but after passing them one by one, I found that most of them were immature, and I also gave direct feedback.\"<img src=\"https://static.tigerbbs.com/2dcc717dcbd72669b175a38910eeb96a\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\">Four co-founders cut the cake at the listing siteOne is looking for future-oriented investment targets, and the other is looking for a new entrepreneurial direction. For most of the day, the two people discussed countless possibilities of entrepreneurship, and then overthrew them one by one. Suddenly, Zhang Fei's mind flashed with inspiration:\"I have a very good product manager here. Why don't you work with him?\" Zhang Fei said.This \"very good product manager\" is Cheng Yixiao. As an angel investor of GIF Kuaishou,Zhang Fei is very optimistic about mobile video in the 4G era, and GIF Aauto Quicker, as a primitive video form, makes him see some possibility.Since its launch in 2011, GIF Kuaishou has accumulated many users and began to try to transform from a tool to a short video community, but it did not go smoothly.As a product manager, Cheng Yixiao faces a simple challenge:When users produce content through GIF Aauto Quicker and are willing to upload their works to the community section, how can everyone's works be seen by more people?This is the most basic and ultimate incentive for the enthusiasm of creators.At first, they adopted the general recommendation method, that is, making new works or works within seven days into a list every day. The list ranking is based on the popularity weights such as comments, sharing and likes of the works, and all users see it. It's the same list.The number of works that can be recommended on the list is extremely limited, and it is easy to turn the head. Only talented and good-looking creators have the opportunity to be popular.And Cheng Yixiao especially hopes to see ordinary people's works on the list.Co-founder Yang Yuanxi recalled that in order to let as many people's works be seen as possible, the first thing they did when they went to work every day was to adjust the recommendation formula. Take A from 0.7 to 0.8 today and B from 0.5 to 0.4 tomorrow. Over time, the formula becomes more and more complicated, but the efficiency and effect are always not good.This is not a problem that can be solved by product managers alone. The prototype of this video community needs the blessing of advanced technology and a brand-new algorithm and recommendation method.When Zhang Fei came up with the idea of bringing Su Hua and Cheng Yixiao together by accident in Shanghai, it happened.One holds the most advanced technical tools, and the other has strong understanding and design ability of products and communities. The two men met.The latter story has been widely circulated today.In the summer of 2013, Su Hua and Cheng Yixiao met at Jinyu Hotel in Beijing, and the two people who were not good at words chatted until two or three in the morning.The two are highly consistent in values,Thinks that the community should give more exposure to people, so that the work of ordinary people can be seen.These simple concepts were later summarized as Kuaishou's fair and inclusive values, and subtly became the underlying logic of products and algorithms.After the team merger and equity adjustment, Cheng Yixiao was in charge of the product, and Su Hua became CEO. They quickly did two \"big things\", one was to move the company to Wudaokou Huaqing Jiayuan, and the other was that Su Hua wrote down the recommendation algorithm on GIF Kuaishou. first line of code.<img src=\"https://static.tigerbbs.com/7d9ec949686d4de05a208052defcf5de\" tg-width=\"840\" tg-height=\"477\" referrerpolicy=\"no-referrer\">Kuaishou in Wudaokou Huaqing JiayuanThe technical force is powerful. The recommendations brought by Suhua to Kuaishou are personalized recommendations, thousands of people and thousands of faces. Everyone sees a different Kuaishou, and each work will be given initial cold start traffic. This epoch-making experience is applied to short videos for the first time, and the burst of energy is visible to the naked eye.In April 2014, \"GIF Kuaishou\" was renamed Kuaishou, officially transforming into a short video community platform; On June 6, Kuaishou DAU exceeded one million for the first time; In January 2015, Kuaishou DAU exceeded 10 million; DAU reached 40 million at the end of 2016; The DAU at the end of 2017 exceeded 110 million.Prior to this, Kuaishou had hardly done any market launch. The growth of users benefited from the accuracy and efficiency of long-tail content distribution under the concept of inclusiveness, as well as the platform's attention to ordinary people's lives.An early employee of Kuaishou recalled the interview with Cheng Yixiao like this: \"In the first 50 to 60%, I was talking about the state that he was listening. Later, he took out his mobile phone and showed me the list of his concerns. What kind of people he paid attention to, and then he talked to me about everyone, just like his family, what kind of people they were, and what Kuaishou had experienced.\"No matter Su Hua or Cheng Yixiao, they have maintained this habit so far. As founders, they have gained belief incentives that far exceed commercial returns from positive feedback, changes in fate and \"thank you to the official\" user reviews.The battle startsAt the end of 2017, Kuaishou, as an Internet application with over 100 million DAU, had only more than 1,000 employees. Pushing forward another year, the company only had 600 to 700 employees.To some extent, this verifies a hypothesis of Su Hua,How large user scale products can a small technical team control; Without the interference of commercialization and strong operation, how long does it take to precipitate from community to social interaction?This is a low-key, calm, enjoying growth and user feedback. More and more ordinary people use Kuaishou to record their lives, which makes this product unique and full of idealism, but it is not perfect, controversial, and even crises, and entered an inflection point in 2018-2019.\"We have to do it, we have to fight!\"In June 2019, at the headquarters of Kuaishou Xierqi, an early employee still remembers the cry made by co-founder Cheng Yixiao at the mobilization meeting.This is a meeting that changed the course of Kuaishou's history. He said that when he saw the two founders who were not good at words walking on the stage, clenching their fists and calling on all the staff to participate, everyone present was excited.From the start of its business in 2011 to the end of 2017, the DAU exceeded 100 million. As a pioneer in the short video industry, Kuaishou has not fought battles. One product after another such as Meipai has challenged Kuaishou's status. Until 2018, they encountered an unprecedentedly powerful opponent, ByteDance's<a href=\"https://laohu8.com/S/DYIN\">Douyin</a>, with new product logic, content distribution logic, and business logic, it has achieved rapid transcendence.Finally, this battle can't be fought. According to the \"Late\" report, after the Spring Festival in 2019, Kuaishou executives and the product team went to Chongqing to conduct a user survey, which was internally called the \"Chongqing Conference\". Su Hua and Cheng Yixiao were directly stimulated by users and realizedNon-aggressive growth = handing over users to others; Disunity = acquiescence in the decline of team combat effectiveness.On June 18, Su Hua and Cheng Yixiao issued a letter to all employees, bluntly stating the challenges and hidden dangers faced by Kuaishou: \"We are no longer the fastest team. As we grow up, our muscles begin to become weak, the response slows down, and our perception of connection with users is weakening.\" Of course, the first thing to bear the brunt is the user scale. Kuaishou launched the K3 campaign and set an annual goal of 300 million daily active users before the Spring Festival.User scale is actually just an appearance.Product form, user experience, distribution logic, organizational combat capabilities, operating systems, commercialization systems, and infrastructure are the gaps that need to be bridged in front of this \"small company\".If in the past, products + technology and Xiaomi + rifles won the guerrilla warfare, now Kuaishou is faced with the ace of the whole system, with amazing combat power, extremely fast speed, and bold spending of money. If the founder himself cannot iterate and lead The overall evolution of the company, users are likely to vote with their feet.Such cases abound in the history of mobile Internet, whether it is group buying, bike-sharing, or mobile e-commerce,There have been many startups that set foot on the wind one or two steps ahead of time, and were eventually crushed by latecomers. Apart from luck, the core lies in the wind. Founders and companies did not quickly complete the evolution from \"small companies\" to \"big companies\".Su Hua and Cheng Yixiao should be grateful for their courage and determination to launch the battle at that time. Today, although it is no longer the NO.1 on the track, Kuaishou has not been defeated by competition, but has become stronger in repeated contests with itself, opponents, and the market.\"No powerful company has never been killed by others in the competition.\" Ma Hongbin, senior vice president of Kuaishou, said that the more competitive it is with friends, the more it grows.Relying on the synchronous adjustment of products, algorithms, and operations, the high-speed operation of the organization, the cooperation of CCTV Spring Festival Gala, and the rise of the Extreme Edition, Kuaishou has achieved the K3 goal.On May 24 this year, Kuaishou, which went public, released its first quarter results for 2021. The data shows,The average daily active users of Kuaishou China's applications and mini programs reached 379.2 million, and the average daily usage time of daily active users was 99.3 minutes.\"The opponent doesn't seem to beat us like much. No matter how we compete, we have also risen to 300 million.\" A person in charge of Kuaishou said that many people held back their strength before K3, and this battle has become an outlet to relieve anxiety. Let Kuaishou's situation finally bottom out.Seek common ground while reserving differencesK3 has become a turning point for Kuaishou from Buddhism to wolf. Since then, the team has continued to expand, and the pace has become faster and faster. Every few months, Su Hua and the management team have to fight a big battle.There is no turning back when opening the bow. Products need to change, algorithms need to change, operations need to change, business models need to change. A team of more than 10,000 people is seeking change and victory. All these changes will ultimately make Kuaishou Kuaishou, or will it become an opponent?On the road of comprehensive evolution, what can and cannot be changed requires Kuaishou founders and executives to delineate a scope and repeatedly revise it during business growth.In 2020 after K3, the direction, boundaries and logic of Kuaishou's evolution will gradually become clear:Do operations light or heavy; Is the product double or single column? Do you pay attention to private domain or public domain?These questions that once caused internal debate and confusion have been answered.Before 2019, Kuaishou did not have a positive operating system. Based on the concept of not disturbing users, the so-called operating department mainly operated in a negative direction. How to determine and deal with creators who violated regulations, and how to deal with accounts who violated community rules.After the launch of K3, Ma Hongbin, senior vice president of Kuaishou, took over and built the prototype of the operating system. The core problem to be solved,The first is the introduction of high-quality creators, and the second is the distribution of high-quality content and the growth of creators. By operating creators and high-quality content, community activity, retention and new additions are enhanced.For Kuaishou, operation drive is a new attempt. Kuaishou encourages ordinary people to record their lives, display them in two columns and give fair traffic, but the quality of the content is uneven, which seriously affects the perception and tonality of Kuaishou, thereby hurting the acceptance of users in first-and second-tier cities.While focusing on managing the community atmosphere, it improves the quality of content by introducing high-quality creators and providing operation and traffic support. This has caused major changes in Kuaishou's content ecology from 2018 to 2019 and has become the basis for attracting incremental users.<img src=\"https://static.tigerbbs.com/6018cf1eb61869e628ebcc17fe3cdd61\" tg-width=\"1000\" tg-height=\"750\" referrerpolicy=\"no-referrer\">In 2018, the team building site of Kuaishou Platform R&D Department was transformed into a work siteIt is understood that in the process of introducing talents and building a new operating system, the founder gave an underlying logic. No matter how the content changes, Kuaishou is still most concerned about and concerned about people. Liu Xiao, general manager of Kuaishou Content Operation Center, still remembers that during the interview, Su Hua spent nearly two hours telling her the story of \"Brother Grape\".\"Interviews with other companies should not spend an hour and a half telling the story of a certain user, let alone the founder.\" She found that this company really cares about every creator.“The operating logic of Kuaishou and its friends is very different. We care more about people. At the moment, the other party still cares very much about the content and how good the content looks. This is a big underlying difference, which will lead to your distribution logic being completely different. \"Liu Xiao said that in the past, Kuaishou's operation was biased towards management, which would tell you what you couldn't do, but now the creator service team has become a service provider.At the beginning of 2020, after Liu Xiao joined Kuaishou, the operation began to enter the stage of refinement. In her view, the content ecosystem of Kuaishou is already very large, and any single vertical category can become a large-scale interest community. In such an environment, it is a very grand task to maintain the relationship between local and ecological, keep the ecological health and make the creator's experience better.At the same time, Kuaishou's core management finally solved two thorny problems,One is the choice of single-column and double-column, and the other is the balance between private domain and public domain.Single-column and double-column have plagued Kuaishou for a long time. In the end, the two forms were integrated on Kuaishou version 8.0. The main station retains the double-column community form, and at the same time opens up the entrance of single-column consumption experience; Kuaishou Express Edition fully assumes the important task of going up and down scenarios, capturing users, and its DAU continues to grow after exceeding 100 million.On the other hand, at the Kuaishou Photosynthetic Creators Conference held in Guangzhou in April this year, Wang Jianwei, senior vice president of Kuaishou and head of the main site product department, clarified for the first time the principle of Kuaishou focusing on the private domain and expanding the public domain.\"In terms of management complexity, it is definitely much easier to manage the public domain. Whoever does it can't be pulled down. But the private domain is equivalent to the creator having a little industry of his own there. It is particularly difficult to manage it or ignore it and in what way.\" Cheng Yixiao said,Doing a good job and managing the private domain, allowing more producers to \"bloom\", can give the society more temperature and trust.The integration of single and double columns, the combination of public and private domains, and the creation of an online community full of temperature and trust have reached a high degree of consensus within Kuaishou. \"The combination of public and private domains must be more difficult than just the public domain, and it is much more difficult, but this difficulty is precisely Kuaishou's biggest advantage. Once established, it is a huge threshold.\" A Kuaishou executive said that this is the differentiation and characteristic path between Kuaishou and other platforms.Positive ecological cycleIn March 2021, Kuaishou released its first financial report after listing. In 2020, Kuaishou achieved revenue of 58.8 billion yuan, of which online marketing revenue was 21.9 billion yuan, accounting for 37.2%. In the fourth quarter, Kuaishou's online marketing revenue in a single quarter was 8.5 billion, surpassing live broadcast rewards to become Kuaishou's largest source of revenue.In the subsequent Q1 financial report, Kuaishou's revenue structure continued this change, with online revenue accounting for more than 50%, followed by live broadcast and e-commerce.Ten years after its establishment, Kuaishou has finally changed its income structure with single live broadcast revenue as the core, and online marketing and emerging business revenue have become two wings.<img src=\"https://static.tigerbbs.com/fb96d21633fc5737cf83ae2a90b2303b\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\">As we all know, Kuaishou's commercialization system was established relatively late. For a long time, Su Hua and Cheng Yixiao were very vigilant and rejected to the fact that commercial factors hurt user experience.Before 2018, although Kuaishou had more than 100 million daily active users, it only developed live broadcast as the only way to monetize. The view of the two founders is,Live broadcast is a user product, which does not hurt the user experience. When the live broadcast happens, the rewarding person is happy, the rewarding person is happy, and the rewarding person is also happy.However, information flow advertising is different, which is likely to hurt the user experience, thus causing the loss of daily activity. Therefore, any core member of Kuaishou's commercialization can feel the difficulty of opening this door.\"In the past, every time I sent income changes to the two founders, they all responded flat. Every time I said that I had done another experiment to optimize the user experience today, the reply was always very fast, and you could see what they felt deep in their hearts. Things are the most important thing.\" A person in charge of Kuaishou commercialization has a deep understanding of this.Another person who has a deep understanding is Cao Shibo, general manager of Kuaishou Technology Business Revenue Management Center. Cao Shibo, who has a background in business analysis, joined Kuaishou in early 2018 and worked in many departments, all involving commercialization.\"Before officially launching the commercial business, we spent a lot of time doing basic work, including algorithms, user experience systems, review systems, etc. The core of a lot of strategic thinking and preparation is that you can make money, but you can't hurt the user experience.\" Cao Shibo said.Later, Kuaishou built a relatively complete indicator system. By introducing economic models, it measured how much money it would earn and how much DAU it would lose if this traffic was advertised and realized. Through systematic indicators and monitoring, the user experience was ensured.\"Until today, we have very strict internal controls and mechanisms for the frequency of users watching advertisements, and strictly control the quality of advertising content.\" Cao Shibo said,They invested hundreds of people to spend several months tagging users to ensure the accuracy of algorithm recommendation and crowd targeting.When these basic tasks were completed, Kuaishou's commercialization system was launched, and the magnetic engine was launched, Kuaishou's online marketing revenue skyrocketed. In 2019, Kuaishou's online marketing revenue was 7.4 billion, 7.2 billion in the first half of 2020, and 21.9 billion for the whole year, with a growth rate of more than 200%.Cao Shibo said that the commercialization of Kuaishou in 2021 will greatly expand the growth space of Kuaishou's online marketing revenue regardless of the number of brand advertisers, affiliate advertisements and the development of more advertising forms.Similar to Kuaishou's experience of commercialization, Luo Qiong, vice president of Kuaishou e-commerce and head of platform experience, was also \"very uncomfortable\" when he first joined Kuaishou.Luo Qiong has worked on traditional e-commerce platforms for 15 years, but the industry's very mature promotion and traffic sales logic often hits the wall of \"community ecology\" in Kuaishou.For her, the task is not to create how much GMV, but to build trust among merchants, anchors and consumers, enhance community value, and make the cake bigger.\"Traditional e-commerce relies heavily on goods, but Kuaishou actually relies heavily on people. For traditional e-commerce practitioners, this difference has a very strong shift in the focus, and you will find that from the community to people, and then to transaction conversion, this is A slow reflection, unlike efficient e-commerce, the short-term benefits are very beautiful.\"Luo Qiong said that Kuaishou hopes to establish a brand-new form of e-commerce, which is based on the connection and trust between people.This new type of trust relationship based on short videos and live broadcasts takes time to settle, but there is enough room for imagination. In 2020, the GMV of Kuaishou e-commerce reached 381.2 billion, an increase of 4,000 times in two years, and the average repurchase rate of users was as high as 65%.In 2021, Kuaishou further proposed the concept of trust e-commerce, and built the mind and cognition of Kuaishou e-commerce with extreme trust, hoping to reconstruct the decision-making of one billion consumers in a new way. In fact, the rise of Kuaishou e-commerce is already changing the pattern of the traditional e-commerce industry.<img src=\"https://static.tigerbbs.com/210d2ee9a518657bfd7f5b6471c11fb2\" tg-width=\"1080\" tg-height=\"586\" referrerpolicy=\"no-referrer\">More importantly,Kuaishou's business ecosystem based on live broadcast, advertising, and e-commerce is feeding back tens of millions of content creators, allowing them to live better in this community. The business ecosystem and the content ecosystem are forming a positive cycle of mutual promotion.This positive cycle is particularly important to support Kuaishou's vision. In the past ten years, Kuaishou has actually been a unique social experiment in the Internet field, focusing on ordinary people and benefiting equally and universally. This kind of experiment went smoothly at first, but later it encountered challenges. The two-wheel drive of the content ecosystem and the business ecosystem can make this chariot move forward more smoothly. Whether Kuaishou can be further successful can also verify that the Internet is important to human beings. What kind of tool is it-to rule people or to make people more equal.From equality and inclusiveness to warmth and trust, the story of a decade is beginning.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ten-year-old Kuaishou, the mirror image of the world</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTen-year-old Kuaishou, the mirror image of the world\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/101\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/98669fe7974e42f3976b3db47528792d);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n虎嗅APP \n2021-06-15 17:48\n</div>\n</a>\n</h4>\n</header>\n<article>\nAt the end of 2011, the small<a href=\"https://laohu8.com/S/V03.SI\">Startups</a>GIF Kuaishou, founder Cheng Yixiao in<a href=\"https://laohu8.com/S/WB\">Weibo</a>, Douban and other platforms released a recruitment information: We sincerely seek a UI designer to be an entrepreneurial partner, providing competitive salary and generous equity.Cheng Yixiao is a deep user of Douban. At that time, the two groups he often visited were \"IT Recruitment King\" and \"Graphic Designer\". The company was founded and the product started. This young man has an almost intuitive yearning for community and design.2011 was a turbulent year:<a href=\"https://laohu8.com/S/ZH\">Zhihu</a>It has just been established, and Meituan has only been online for a year. Station B has just changed its name to bilibili from its predecessor \"Mikufans\". With the vigorous development of mobile Internet, coffee shops in Haidian District are as lively as vegetable markets, and countless people are involved in them.Shortly after Cheng Yixiao's recruitment information was sent out, a UI designer joined GIF Kuaishou and became one of the earliest four employees. They live in a residential house in Aobei Community, Lishuiqiao, Haidian District, silently polishing this product.<img src=\"https://static.tigerbbs.com/6ce1483e15c5a30766ef7457ab4b0d79\" tg-width=\"1000\" tg-height=\"750\" referrerpolicy=\"no-referrer\">Ten years ago, the desk at the Aobei CenterYang Yuanxi, co-founder of Kuaishou, recalled that work and life were inseparable at that time, and four people worked shifts at noon every day to order meals. \"At that time, there were only seven restaurants downstairs. Basically, the seven restaurants were arranged in different orders.\"Maybe he couldn't stand such working and living conditions, or maybe he didn't have hope for the future of this small company. It didn't take long for the designer to leave GIF Kuaishou and passed by an era.No one could have predicted that many years later, this company would create the entire era of short videos, and after some ups and downs of development, it was listed on the Hong Kong Stock Exchange, with a market value of one trillion Hong Kong dollars at one time, becoming the fifth largest Internet company in China.So far, the other three early employees are still leading Kuaishou forward:Co-founders Cheng Yixiao, Yin Xin and Yang Yuanxi, together with Su Hua, who joined Kuaishou in 2013, form the background of Kuaishou's unique product.Ten years have passed in a blink of an eye, and countless companies have been lost in the big waves of the mobile Internet. In the ten years of Kuaishou, the weather was smooth and imminent. Under the pressure of strong competition, it finally tenaciously reached 300 million daily active users.<img src=\"https://static.tigerbbs.com/c39c2e4a9ed3d8016c44153dfc68ec2c\" tg-width=\"1080\" tg-height=\"1439\" referrerpolicy=\"no-referrer\">Kuaishou lands on the Hong Kong Stock ExchangeThis is a legendary story of ups and downs, and it is also a story of the past ten years<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>A typical sample of the evolution of Internet companies. Products, technology, operations, business, when a young company sets foot on a fertile soil ahead of time, and its accumulation does not match the huge opportunities it faces, how to survive, develop, persist, evolve, and make key and correct decisions, and then start a protracted war.Wind and cloud meetingShanghai, 2013. This afternoon, Zhang Fei, a partner of Morningside Capital, decided to meet the young man looking for investment.The other party graduated from Tsinghua University and worked in<a href=\"https://laohu8.com/S/GOOG\">Google</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Hold office. While having a rich resume, he is also a serial entrepreneur with a tough personality and full of energy.This is the second meeting between Zhang Fei and him. This young man named Su Hua is preparing to give up his entrepreneurial project and start more new attempts.According to Zhang Fei's recollection, Su Hua talked about more than 20 projects at that time. \"Many particularly interesting entrepreneurial ideas, but after passing them one by one, I found that most of them were immature, and I also gave direct feedback.\"<img src=\"https://static.tigerbbs.com/2dcc717dcbd72669b175a38910eeb96a\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\">Four co-founders cut the cake at the listing siteOne is looking for future-oriented investment targets, and the other is looking for a new entrepreneurial direction. For most of the day, the two people discussed countless possibilities of entrepreneurship, and then overthrew them one by one. Suddenly, Zhang Fei's mind flashed with inspiration:\"I have a very good product manager here. Why don't you work with him?\" Zhang Fei said.This \"very good product manager\" is Cheng Yixiao. As an angel investor of GIF Kuaishou,Zhang Fei is very optimistic about mobile video in the 4G era, and GIF Aauto Quicker, as a primitive video form, makes him see some possibility.Since its launch in 2011, GIF Kuaishou has accumulated many users and began to try to transform from a tool to a short video community, but it did not go smoothly.As a product manager, Cheng Yixiao faces a simple challenge:When users produce content through GIF Aauto Quicker and are willing to upload their works to the community section, how can everyone's works be seen by more people?This is the most basic and ultimate incentive for the enthusiasm of creators.At first, they adopted the general recommendation method, that is, making new works or works within seven days into a list every day. The list ranking is based on the popularity weights such as comments, sharing and likes of the works, and all users see it. It's the same list.The number of works that can be recommended on the list is extremely limited, and it is easy to turn the head. Only talented and good-looking creators have the opportunity to be popular.And Cheng Yixiao especially hopes to see ordinary people's works on the list.Co-founder Yang Yuanxi recalled that in order to let as many people's works be seen as possible, the first thing they did when they went to work every day was to adjust the recommendation formula. Take A from 0.7 to 0.8 today and B from 0.5 to 0.4 tomorrow. Over time, the formula becomes more and more complicated, but the efficiency and effect are always not good.This is not a problem that can be solved by product managers alone. The prototype of this video community needs the blessing of advanced technology and a brand-new algorithm and recommendation method.When Zhang Fei came up with the idea of bringing Su Hua and Cheng Yixiao together by accident in Shanghai, it happened.One holds the most advanced technical tools, and the other has strong understanding and design ability of products and communities. The two men met.The latter story has been widely circulated today.In the summer of 2013, Su Hua and Cheng Yixiao met at Jinyu Hotel in Beijing, and the two people who were not good at words chatted until two or three in the morning.The two are highly consistent in values,Thinks that the community should give more exposure to people, so that the work of ordinary people can be seen.These simple concepts were later summarized as Kuaishou's fair and inclusive values, and subtly became the underlying logic of products and algorithms.After the team merger and equity adjustment, Cheng Yixiao was in charge of the product, and Su Hua became CEO. They quickly did two \"big things\", one was to move the company to Wudaokou Huaqing Jiayuan, and the other was that Su Hua wrote down the recommendation algorithm on GIF Kuaishou. first line of code.<img src=\"https://static.tigerbbs.com/7d9ec949686d4de05a208052defcf5de\" tg-width=\"840\" tg-height=\"477\" referrerpolicy=\"no-referrer\">Kuaishou in Wudaokou Huaqing JiayuanThe technical force is powerful. The recommendations brought by Suhua to Kuaishou are personalized recommendations, thousands of people and thousands of faces. Everyone sees a different Kuaishou, and each work will be given initial cold start traffic. This epoch-making experience is applied to short videos for the first time, and the burst of energy is visible to the naked eye.In April 2014, \"GIF Kuaishou\" was renamed Kuaishou, officially transforming into a short video community platform; On June 6, Kuaishou DAU exceeded one million for the first time; In January 2015, Kuaishou DAU exceeded 10 million; DAU reached 40 million at the end of 2016; The DAU at the end of 2017 exceeded 110 million.Prior to this, Kuaishou had hardly done any market launch. The growth of users benefited from the accuracy and efficiency of long-tail content distribution under the concept of inclusiveness, as well as the platform's attention to ordinary people's lives.An early employee of Kuaishou recalled the interview with Cheng Yixiao like this: \"In the first 50 to 60%, I was talking about the state that he was listening. Later, he took out his mobile phone and showed me the list of his concerns. What kind of people he paid attention to, and then he talked to me about everyone, just like his family, what kind of people they were, and what Kuaishou had experienced.\"No matter Su Hua or Cheng Yixiao, they have maintained this habit so far. As founders, they have gained belief incentives that far exceed commercial returns from positive feedback, changes in fate and \"thank you to the official\" user reviews.The battle startsAt the end of 2017, Kuaishou, as an Internet application with over 100 million DAU, had only more than 1,000 employees. Pushing forward another year, the company only had 600 to 700 employees.To some extent, this verifies a hypothesis of Su Hua,How large user scale products can a small technical team control; Without the interference of commercialization and strong operation, how long does it take to precipitate from community to social interaction?This is a low-key, calm, enjoying growth and user feedback. More and more ordinary people use Kuaishou to record their lives, which makes this product unique and full of idealism, but it is not perfect, controversial, and even crises, and entered an inflection point in 2018-2019.\"We have to do it, we have to fight!\"In June 2019, at the headquarters of Kuaishou Xierqi, an early employee still remembers the cry made by co-founder Cheng Yixiao at the mobilization meeting.This is a meeting that changed the course of Kuaishou's history. He said that when he saw the two founders who were not good at words walking on the stage, clenching their fists and calling on all the staff to participate, everyone present was excited.From the start of its business in 2011 to the end of 2017, the DAU exceeded 100 million. As a pioneer in the short video industry, Kuaishou has not fought battles. One product after another such as Meipai has challenged Kuaishou's status. Until 2018, they encountered an unprecedentedly powerful opponent, ByteDance's<a href=\"https://laohu8.com/S/DYIN\">Douyin</a>, with new product logic, content distribution logic, and business logic, it has achieved rapid transcendence.Finally, this battle can't be fought. According to the \"Late\" report, after the Spring Festival in 2019, Kuaishou executives and the product team went to Chongqing to conduct a user survey, which was internally called the \"Chongqing Conference\". Su Hua and Cheng Yixiao were directly stimulated by users and realizedNon-aggressive growth = handing over users to others; Disunity = acquiescence in the decline of team combat effectiveness.On June 18, Su Hua and Cheng Yixiao issued a letter to all employees, bluntly stating the challenges and hidden dangers faced by Kuaishou: \"We are no longer the fastest team. As we grow up, our muscles begin to become weak, the response slows down, and our perception of connection with users is weakening.\" Of course, the first thing to bear the brunt is the user scale. Kuaishou launched the K3 campaign and set an annual goal of 300 million daily active users before the Spring Festival.User scale is actually just an appearance.Product form, user experience, distribution logic, organizational combat capabilities, operating systems, commercialization systems, and infrastructure are the gaps that need to be bridged in front of this \"small company\".If in the past, products + technology and Xiaomi + rifles won the guerrilla warfare, now Kuaishou is faced with the ace of the whole system, with amazing combat power, extremely fast speed, and bold spending of money. If the founder himself cannot iterate and lead The overall evolution of the company, users are likely to vote with their feet.Such cases abound in the history of mobile Internet, whether it is group buying, bike-sharing, or mobile e-commerce,There have been many startups that set foot on the wind one or two steps ahead of time, and were eventually crushed by latecomers. Apart from luck, the core lies in the wind. Founders and companies did not quickly complete the evolution from \"small companies\" to \"big companies\".Su Hua and Cheng Yixiao should be grateful for their courage and determination to launch the battle at that time. Today, although it is no longer the NO.1 on the track, Kuaishou has not been defeated by competition, but has become stronger in repeated contests with itself, opponents, and the market.\"No powerful company has never been killed by others in the competition.\" Ma Hongbin, senior vice president of Kuaishou, said that the more competitive it is with friends, the more it grows.Relying on the synchronous adjustment of products, algorithms, and operations, the high-speed operation of the organization, the cooperation of CCTV Spring Festival Gala, and the rise of the Extreme Edition, Kuaishou has achieved the K3 goal.On May 24 this year, Kuaishou, which went public, released its first quarter results for 2021. The data shows,The average daily active users of Kuaishou China's applications and mini programs reached 379.2 million, and the average daily usage time of daily active users was 99.3 minutes.\"The opponent doesn't seem to beat us like much. No matter how we compete, we have also risen to 300 million.\" A person in charge of Kuaishou said that many people held back their strength before K3, and this battle has become an outlet to relieve anxiety. Let Kuaishou's situation finally bottom out.Seek common ground while reserving differencesK3 has become a turning point for Kuaishou from Buddhism to wolf. Since then, the team has continued to expand, and the pace has become faster and faster. Every few months, Su Hua and the management team have to fight a big battle.There is no turning back when opening the bow. Products need to change, algorithms need to change, operations need to change, business models need to change. A team of more than 10,000 people is seeking change and victory. All these changes will ultimately make Kuaishou Kuaishou, or will it become an opponent?On the road of comprehensive evolution, what can and cannot be changed requires Kuaishou founders and executives to delineate a scope and repeatedly revise it during business growth.In 2020 after K3, the direction, boundaries and logic of Kuaishou's evolution will gradually become clear:Do operations light or heavy; Is the product double or single column? Do you pay attention to private domain or public domain?These questions that once caused internal debate and confusion have been answered.Before 2019, Kuaishou did not have a positive operating system. Based on the concept of not disturbing users, the so-called operating department mainly operated in a negative direction. How to determine and deal with creators who violated regulations, and how to deal with accounts who violated community rules.After the launch of K3, Ma Hongbin, senior vice president of Kuaishou, took over and built the prototype of the operating system. The core problem to be solved,The first is the introduction of high-quality creators, and the second is the distribution of high-quality content and the growth of creators. By operating creators and high-quality content, community activity, retention and new additions are enhanced.For Kuaishou, operation drive is a new attempt. Kuaishou encourages ordinary people to record their lives, display them in two columns and give fair traffic, but the quality of the content is uneven, which seriously affects the perception and tonality of Kuaishou, thereby hurting the acceptance of users in first-and second-tier cities.While focusing on managing the community atmosphere, it improves the quality of content by introducing high-quality creators and providing operation and traffic support. This has caused major changes in Kuaishou's content ecology from 2018 to 2019 and has become the basis for attracting incremental users.<img src=\"https://static.tigerbbs.com/6018cf1eb61869e628ebcc17fe3cdd61\" tg-width=\"1000\" tg-height=\"750\" referrerpolicy=\"no-referrer\">In 2018, the team building site of Kuaishou Platform R&D Department was transformed into a work siteIt is understood that in the process of introducing talents and building a new operating system, the founder gave an underlying logic. No matter how the content changes, Kuaishou is still most concerned about and concerned about people. Liu Xiao, general manager of Kuaishou Content Operation Center, still remembers that during the interview, Su Hua spent nearly two hours telling her the story of \"Brother Grape\".\"Interviews with other companies should not spend an hour and a half telling the story of a certain user, let alone the founder.\" She found that this company really cares about every creator.“The operating logic of Kuaishou and its friends is very different. We care more about people. At the moment, the other party still cares very much about the content and how good the content looks. This is a big underlying difference, which will lead to your distribution logic being completely different. \"Liu Xiao said that in the past, Kuaishou's operation was biased towards management, which would tell you what you couldn't do, but now the creator service team has become a service provider.At the beginning of 2020, after Liu Xiao joined Kuaishou, the operation began to enter the stage of refinement. In her view, the content ecosystem of Kuaishou is already very large, and any single vertical category can become a large-scale interest community. In such an environment, it is a very grand task to maintain the relationship between local and ecological, keep the ecological health and make the creator's experience better.At the same time, Kuaishou's core management finally solved two thorny problems,One is the choice of single-column and double-column, and the other is the balance between private domain and public domain.Single-column and double-column have plagued Kuaishou for a long time. In the end, the two forms were integrated on Kuaishou version 8.0. The main station retains the double-column community form, and at the same time opens up the entrance of single-column consumption experience; Kuaishou Express Edition fully assumes the important task of going up and down scenarios, capturing users, and its DAU continues to grow after exceeding 100 million.On the other hand, at the Kuaishou Photosynthetic Creators Conference held in Guangzhou in April this year, Wang Jianwei, senior vice president of Kuaishou and head of the main site product department, clarified for the first time the principle of Kuaishou focusing on the private domain and expanding the public domain.\"In terms of management complexity, it is definitely much easier to manage the public domain. Whoever does it can't be pulled down. But the private domain is equivalent to the creator having a little industry of his own there. It is particularly difficult to manage it or ignore it and in what way.\" Cheng Yixiao said,Doing a good job and managing the private domain, allowing more producers to \"bloom\", can give the society more temperature and trust.The integration of single and double columns, the combination of public and private domains, and the creation of an online community full of temperature and trust have reached a high degree of consensus within Kuaishou. \"The combination of public and private domains must be more difficult than just the public domain, and it is much more difficult, but this difficulty is precisely Kuaishou's biggest advantage. Once established, it is a huge threshold.\" A Kuaishou executive said that this is the differentiation and characteristic path between Kuaishou and other platforms.Positive ecological cycleIn March 2021, Kuaishou released its first financial report after listing. In 2020, Kuaishou achieved revenue of 58.8 billion yuan, of which online marketing revenue was 21.9 billion yuan, accounting for 37.2%. In the fourth quarter, Kuaishou's online marketing revenue in a single quarter was 8.5 billion, surpassing live broadcast rewards to become Kuaishou's largest source of revenue.In the subsequent Q1 financial report, Kuaishou's revenue structure continued this change, with online revenue accounting for more than 50%, followed by live broadcast and e-commerce.Ten years after its establishment, Kuaishou has finally changed its income structure with single live broadcast revenue as the core, and online marketing and emerging business revenue have become two wings.<img src=\"https://static.tigerbbs.com/fb96d21633fc5737cf83ae2a90b2303b\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\">As we all know, Kuaishou's commercialization system was established relatively late. For a long time, Su Hua and Cheng Yixiao were very vigilant and rejected to the fact that commercial factors hurt user experience.Before 2018, although Kuaishou had more than 100 million daily active users, it only developed live broadcast as the only way to monetize. The view of the two founders is,Live broadcast is a user product, which does not hurt the user experience. When the live broadcast happens, the rewarding person is happy, the rewarding person is happy, and the rewarding person is also happy.However, information flow advertising is different, which is likely to hurt the user experience, thus causing the loss of daily activity. Therefore, any core member of Kuaishou's commercialization can feel the difficulty of opening this door.\"In the past, every time I sent income changes to the two founders, they all responded flat. Every time I said that I had done another experiment to optimize the user experience today, the reply was always very fast, and you could see what they felt deep in their hearts. Things are the most important thing.\" A person in charge of Kuaishou commercialization has a deep understanding of this.Another person who has a deep understanding is Cao Shibo, general manager of Kuaishou Technology Business Revenue Management Center. Cao Shibo, who has a background in business analysis, joined Kuaishou in early 2018 and worked in many departments, all involving commercialization.\"Before officially launching the commercial business, we spent a lot of time doing basic work, including algorithms, user experience systems, review systems, etc. The core of a lot of strategic thinking and preparation is that you can make money, but you can't hurt the user experience.\" Cao Shibo said.Later, Kuaishou built a relatively complete indicator system. By introducing economic models, it measured how much money it would earn and how much DAU it would lose if this traffic was advertised and realized. Through systematic indicators and monitoring, the user experience was ensured.\"Until today, we have very strict internal controls and mechanisms for the frequency of users watching advertisements, and strictly control the quality of advertising content.\" Cao Shibo said,They invested hundreds of people to spend several months tagging users to ensure the accuracy of algorithm recommendation and crowd targeting.When these basic tasks were completed, Kuaishou's commercialization system was launched, and the magnetic engine was launched, Kuaishou's online marketing revenue skyrocketed. In 2019, Kuaishou's online marketing revenue was 7.4 billion, 7.2 billion in the first half of 2020, and 21.9 billion for the whole year, with a growth rate of more than 200%.Cao Shibo said that the commercialization of Kuaishou in 2021 will greatly expand the growth space of Kuaishou's online marketing revenue regardless of the number of brand advertisers, affiliate advertisements and the development of more advertising forms.Similar to Kuaishou's experience of commercialization, Luo Qiong, vice president of Kuaishou e-commerce and head of platform experience, was also \"very uncomfortable\" when he first joined Kuaishou.Luo Qiong has worked on traditional e-commerce platforms for 15 years, but the industry's very mature promotion and traffic sales logic often hits the wall of \"community ecology\" in Kuaishou.For her, the task is not to create how much GMV, but to build trust among merchants, anchors and consumers, enhance community value, and make the cake bigger.\"Traditional e-commerce relies heavily on goods, but Kuaishou actually relies heavily on people. For traditional e-commerce practitioners, this difference has a very strong shift in the focus, and you will find that from the community to people, and then to transaction conversion, this is A slow reflection, unlike efficient e-commerce, the short-term benefits are very beautiful.\"Luo Qiong said that Kuaishou hopes to establish a brand-new form of e-commerce, which is based on the connection and trust between people.This new type of trust relationship based on short videos and live broadcasts takes time to settle, but there is enough room for imagination. In 2020, the GMV of Kuaishou e-commerce reached 381.2 billion, an increase of 4,000 times in two years, and the average repurchase rate of users was as high as 65%.In 2021, Kuaishou further proposed the concept of trust e-commerce, and built the mind and cognition of Kuaishou e-commerce with extreme trust, hoping to reconstruct the decision-making of one billion consumers in a new way. In fact, the rise of Kuaishou e-commerce is already changing the pattern of the traditional e-commerce industry.<img src=\"https://static.tigerbbs.com/210d2ee9a518657bfd7f5b6471c11fb2\" tg-width=\"1080\" tg-height=\"586\" referrerpolicy=\"no-referrer\">More importantly,Kuaishou's business ecosystem based on live broadcast, advertising, and e-commerce is feeding back tens of millions of content creators, allowing them to live better in this community. The business ecosystem and the content ecosystem are forming a positive cycle of mutual promotion.This positive cycle is particularly important to support Kuaishou's vision. In the past ten years, Kuaishou has actually been a unique social experiment in the Internet field, focusing on ordinary people and benefiting equally and universally. This kind of experiment went smoothly at first, but later it encountered challenges. The two-wheel drive of the content ecosystem and the business ecosystem can make this chariot move forward more smoothly. Whether Kuaishou can be further successful can also verify that the Internet is important to human beings. What kind of tool is it-to rule people or to make people more equal.From equality and inclusiveness to warmth and trust, the story of a decade is beginning.\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b57241e30a2dc7e84d4588d7aafb919c","relate_stocks":{"01024":"快手-W"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186442864","content_text":"2011年底，刚刚组队的小创业公司GIF快手，创始人程一笑在微博、豆瓣等平台发布了一则招聘信息：诚求UI设计师一位做创业伙伴，提供有竞争力的薪酬以及丰厚的股权。\n程一笑是豆瓣深度用户，当时他经常逛的两个小组是“IT招聘王”和“平面设计师”。公司草创，产品肇始，这位年轻人对社区、设计有着近乎直觉般的向往。\n2011年是风起云涌的一年：知乎刚刚成立，美团也才上线一年，B站刚刚从前身“Mikufans”更名bilibili。随着移动互联网蓬勃发展，海淀区的咖啡厅像菜市场一样热闹，无数人投身其中。\n程一笑的招聘信息发出去不久，一位UI设计师加盟了GIF快手，成为最早期的4名员工之一。他们蜗居在海淀区立水桥奥北社区的一间民居里，默默打磨这款产品。\n\n十年前，奥北中心的办公桌\n快手联合创始人杨远熙回忆，当时工作和生活分不开，四个人每天中午轮班去订饭，“当时楼下一共也只有七个饭馆，基本是把七个饭馆，按照不同的顺序排一遍。”\n或许是无法忍受这样的工作和生活状态，或许对于这家小公司的未来不抱希望，那位设计师没过多久便离开了GIF快手，与一个时代擦肩而过。\n谁也无法预料，多年后这家公司会开创整个短视频时代，并在经历一番发展的风风雨雨后，在香港联交所上市，市值一度达万亿港元，成为国内第五大互联网公司。\n至今，其他三位早期员工还在带领快手前行：联合创始人程一笑、银鑫和杨远熙，连同2013年加入快手的宿华，他们构成了快手这款独特产品的底色。\n十年，转瞬即逝，无数公司湮没在移动互联网的大浪淘沙中。快手的十年，曾经风调雨顺，也曾迫在眉睫，在强大竞争压力下最终顽强冲上了3亿日活。\n\n快手登陆港交所\n这是一个跌宕传奇的故事，也是过去十年中国移动互联网公司进化的一个典型样本。产品、技术、运营、商业，当一家年轻公司提前踏上一片沃土，而它的积累又与面对的巨大机会并不匹配时，如何生存、发展、坚守、进化，做出关键且正确的决策，进而拉开了一场持久战。\n风云际会\n2013年，上海。这天下午，晨兴资本合伙人张斐决定见一见那位寻求投资的年轻人，对方毕业于清华大学，曾在谷歌、百度任职。履历丰富的同时，还是名连续创业者，性格坚韧且充满能量。\n这是张斐与他的第二次见面，这位叫宿华的年轻人正准备放弃自己手头的创业项目，展开更多新的尝试。\n据张斐回忆，宿华当时讲了20多个项目，“很多特别有趣的创业想法，但一个个过了之后，发现大部分并不成熟，我也很直接反馈。”\n\n上市现场四位联合创始人切蛋糕\n一个在寻找面向未来的投资标的，一个在寻求新的创业方向，大半天时间两个人讨论了创业的无数可能，然后一一推翻。突然间，张斐头脑中灵光一闪：\n“我这儿有一个挺好的产品经理，你要不跟他一起合作吧！”张斐开口道。\n这个“挺好的产品经理”就是程一笑。作为GIF快手的天使投资人，张斐对4G时代的手机视频十分看好，而GIF快手作为一种原始的视频形态让他看到了某种可能。\n自2011年上线，GIF快手已经积累了不少用户，并开始尝试从工具向短视频社区转型，但并不顺利。\n作为产品经理，程一笑面对着一个朴素的挑战：当用户通过GIF快手生产内容，并且愿意把作品上传到社区版块的时候，如何让每个人的作品被更多人看见？这是对创作者热情最基础，也是最终极的激励。\n最初，他们采用通用推荐的方式，就是每天把新的作品或者七天内的作品做成榜单，榜单排序是按照作品的评论、分享、点赞等热度权重打分而来，所有用户看到的是同一个榜单。\n榜单能够推荐的作品数量极其有限，容易头部化，有才艺、颜值的创作者才有机会上热门，而程一笑特别希望看到普通人的作品也能登上榜单。\n联合创始人杨远熙回忆，为了尽可能让更多人的作品被看到，他们每天上班第一件事就是调整推荐公式。今天把A从0.7调到0.8，明天把B从0.5调到0.4。时间一久，公式越改越复杂，效率和效果却始终不好。\n这不是光凭产品经理能够解决的问题，这个视频社区的雏形需要先进技术的加持，需要一种崭新的算法和推荐方式。\n当张斐在上海鬼使神差产生了将宿华、程一笑撮合到一起的想法时，风云际会。一个手握最先进的技术工具，一个对产品、社区有着强大的理解与设计能力。两个人见面了。\n后面的故事，到今天已经广为流传。2013年夏天，北京金隅酒店，宿华、程一笑见了面，两个不善言辞的人一直聊到凌晨两三点。两人在价值观上高度一致，认为社区应该给更多人曝光的机会，让普通人的作品被看到。\n这些朴素的理念，后来被总结为快手公平普惠的价值观，并在潜移默化中成为产品和算法的底层逻辑。\n团队合并、股权调整后，程一笑负责产品，宿华成为CEO，他们迅速做了两件“大事”，一是将公司搬到五道口华清嘉园，二是宿华为GIF快手写下了推荐算法的第一行代码。\n\n快手在五道口华清嘉园\n技术力量是强大的，宿华为快手带来的推荐是个性化推荐、千人千面，每个人看到的是不一样的快手，而每个作品都会给予初始的冷启动流量，这种划时代的体验第一次应用在短视频上，爆发的能量肉眼可见。\n2014年4月，“GIF快手”更名为快手，正式转型短视频社区平台；6月6日，快手DAU首次突破百万；2015年1月，快手DAU超过千万；2016年底DAU达4000万；2017年底DAU超过1.1亿。在此之前，快手几乎没有做过市场投放，用户增长得益于普惠理念下对长尾内容分发的精准和效率，以及平台对普通人生活的关注。\n一位快手早期员工这样回忆与程一笑的面试：“前面百分之五六十都是我在说他在听的状态。后来他就拿出手机，给我看他关注的列表，他关注了一些什么样的人，然后就滔滔不绝地跟我讲每个人，就像讲他的家人一样，他们是什么样的人，快手里经历过什么。”\n无论宿华还是程一笑，至今保持了这样的习惯。作为创始人，他们从一个个正向反馈、命运变迁和“感谢官方”的用户评价中，获得了远超过商业回报的信念激励。\n战斗打响\n2017年底，快手作为过亿DAU的互联网应用，员工规模只有1000多人，而再往前推一年，这家公司只有六七百人。\n在一定程度上，这验证了宿华的一种假设，一支小规模的技术团队到底可以驾驭多大用户规模的产品；没有商业化、强运营的干扰，从社区到社交，需要多长时间的沉淀。\n这是一段低调、平静、享受增长和用户反馈的日子，越来越多普通人用快手记录生活，让这款产品既独具特色，又充满理想主义，但它并不完美、不乏争议，甚至危机四伏，并在2018-2019年进入拐点。\n “必须得干，要战斗！”2019年6月，快手西二旗总部，一位早期员工至今记得联合创始人程一笑在动员大会上发出的呐喊。\n这是一次改变快手历史进程的会议。他说，当看到两位不善言辞的创始人走上台，握紧拳头，号召全员投入，在场的每个人都热血沸腾。\n自2011年创业到2017年底DAU破亿，作为短视频行业的开创者，快手不是没有打过仗，美拍等一款又一款产品，都曾挑战快手的地位。直到2018，他们遭遇了一个前所未有强大的对手，字节跳动旗下的抖音，用全新产品逻辑、内容分发逻辑、商业逻辑，实现了迅速超越。\n终于，这场仗不打不行了。据《晚点》报道，2019年春节后，快手高管和产品团队一起去重庆做了一场用户调研，内部称之为“重庆会议”，宿华和程一笑受到了来自用户的直接刺激，意识到不激进增长=把用户拱手让给他人；不团结作战=默许团队战斗力减退。\n6月18日，宿华和程一笑发布全员信，直言快手面对的挑战与隐患：“我们已经不是跑得最快的那支队伍，在长大的过程中，我们的肌肉开始变得无力，反应变慢，我们与用户的连接感知在变弱。”首当其冲的当然是用户规模，快手发起了K3战役，定下了春节前3亿日活的年度目标。\n用户规模其实只是表象，产品形态、用户体验、分发逻辑、组织作战能力、运营体系、商业化系统、基础设施才是横亘在这家“小公司”面前，需要跨越的一个个鸿沟。\n如果说过去是产品+技术、小米+步枪打赢了游击战，现在快手面对的则是整建制的王牌师、战力惊人、速度奇快、花钱大胆，如果创始人自己无法迭代，并且带领公司整体进化，用户很可能用脚投票。\n这样的案例在移动互联网历史上比比皆是，无论团购、共享单车，还是移动电商，都曾有众多创业公司提前一步或两步踏上风口，最终被后来者碾压，除了运气，核心还在于风口之上，创始人和公司没有迅速完成从“小公司”到“大公司”的进化。\n宿华和程一笑应当庆幸当时发起战斗的勇气与决心。如今，虽然不再是赛道上的NO.1，但快手没有被竞争打垮，而是在与自我、对手、市场的反复较量中，变得更强大。\n“从来没有哪家实力强的企业会在竞争中被别人干掉。”快手高级副总裁马宏彬表示，与友商之间基本是越竞争，越增长。\n依靠产品、算法、运营的同步调整，组织的高速运转、央视春晚合作以及极速版的崛起，快手实现了K3目标。\n今年5月24日，上市后的快手发布了2021年第一季度业绩。数据显示，快手中国应用程序及小程序的平均日活跃用户达到3.792亿，日活跃用户日均使用时长达99.3分钟。\n“对手好像没把我们打成什么样，别管怎么竞争，我们也涨到了3亿。“一位快手负责人表示，K3之前很多人憋了一股劲，这场战役成为一个缓解焦虑的出口，让快手处境终于触底反弹。\n求同存异\nK3成为快手从佛系到狼性的转折点，从此之后，团队持续扩张，节奏越来越快。每隔几个月，宿华和管理团队就要打一场大仗。\n开弓没有回头箭，产品要变，算法要变，运营要变，商业模式要变，1万多人的队伍求变、求胜，而所有这些变化最终要让快手成为快手，还是成为对手？\n而在全面进化的道路上，哪些能变，哪些不能变，需要快手创始人和高管划定一个范围，并在业务成长中反复修正。\nK3之后的2020年，快手进化的方向、边界和逻辑逐渐清晰：运营做轻还是做重；产品双列还是单列；重视私域还是公域，这些曾在内部引起争论和困惑的问题都有了答案。\n2019年前，快手没有正向运营体系，本着不打扰用户的理念，所谓的运营部门主要是负向运营，创作者违规了如何判定和处理，账号违反了社区规则如何处理。\nK3启动后，快手高级副总裁马宏彬接手并搭建了运营体系的雏形。核心要解决的问题，一是优质创作者引入，二是优质内容分发、创作者成长，通过运营创作者和优质内容，提升社区活跃度、留存并带来新增。\n对快手来说，运营驱动是全新尝试。快手鼓励普通人记录生活，双列展示并给予公平流量，但内容质量却参差不齐，严重影响了快手的观感和调性，进而伤害一二线城市用户的接受度。\n一边下重手治理社区风气，一边通过引入优质创作者提升内容品质，并给予运营和流量支持，这让快手内容生态在2018—2019年发生了重大变化，成为吸引增量用户的基础。\n\n2018年，快手平台研发部的团建现场变工作现场\n据了解，引入人才和建设新运营体系过程中，创始人给了一个底层逻辑，无论内容怎么变，快手最关注和最在意的仍然是人。快手内容运营中心总经理刘逍还记得，面试的时候，宿华花了近两个小时给她讲了“葡萄哥”的故事。\n“其他公司的面试，应该不会把一个半小时的时间都花在去讲某个用户的故事上，何况是创始人。”她发现，这家公司真的非常在乎每个创作者。\n“快手与友商的运营逻辑区别很大，我们更在乎人，对方此刻还是非常在乎内容，会在乎内容的好看程度，这是一个挺大的底层差异，会导致你的分发逻辑完全不一样。”刘逍说，过去快手的运营偏管理，会告诉你什么事情不能做，但现在的创作者服务团队，变成一个服务者角色。\n2020年初，刘逍入职快手后，运营开始进入精细化阶段。在她看来，快手内容生态已经非常庞大，任何单一垂类拿出来都可以成为一个大规模兴趣社区。在这样的环境下，维持局部与生态之间的关系，保持生态的健康，让创作者的体验更好，是个非常宏大的课题。\n与此同时，快手核心管理层终于解决了两个棘手问题，一是单列和双列的选择问题，二是私域和公域的平衡问题。\n单列和双列曾经困扰了快手很长时间，最终两种形态在快手8.0版本上实现了融合，主站保留双列社区形态，同时辟出单列消费体验的入口；快手极速版则全面承担起上下滑场景的重任，夺取用户，DAU破亿之后还在持续增长。\n另一方面，今年4月广州举办的快手光合创作者大会上，快手高级副总裁主站产品部负责人王剑伟首次明确了快手私域为主、公域扩容的原则。\n“从管理复杂度来讲，肯定是公域好管得多。谁行谁上，不行拉倒。但是私域相当于创作者有了自己的一点产业在那里，你到底是管还是不管、用什么样的方式管，难度特别大。”程一笑表示，把私域做好并管好，让更多生产者“绽放”，可以让社会有更多温度和信任。\n单双列融合、公私域结合，打造一个充满温度和信任的在线社区，在快手内部已经达成了高度共识，“公私域结合在一起，一定比只做公域难，而且难不少，但这个难点恰恰是快手最大的优势，一旦建立好了就是巨高的门槛。”一位快手高管表示，这就是快手与其他平台的差异化和特色道路。\n生态正循环\n2021年3月，快手发布了上市后的首份财报。2020年，快手实现营收588亿元，其中线上营销收入219亿元，占比37.2%。第四季度，快手线上营销单季收入85亿，超越直播打赏成为快手第一大收入来源。\n随后公布的Q1财报，快手收入结构延续这一变化，线上收入占比超过50%，直播、电商等紧随其后。成立十年，快手终于改变了以单一直播收入为核心的收入结构，线上营销和新兴业务收入成为两翼。\n\n众所周知，快手的商业化体系搭建较晚。在很长一段时间，宿华和程一笑都对商业因素伤害用户体验这件事十分警惕和排斥。\n2018年前，尽管快手已超过1亿日活，但只发展了直播作为唯一变现方式。两位创始人观点是，直播是一款用户产品，不伤害用户体验，当直播发生的时候，打赏的人开心，看打赏的人开心，被打赏的人也开心。\n但是，信息流广告不同，它很可能伤害用户体验，进而造成日活损失。所以，任何一个快手商业化的核心成员，都能感受到开启这扇大门的艰难。\n“过去我每次给两位创始人发收入变动，他们都反应平淡，每次说我今天又做了一个优化用户体验的实验，回复总是非常快，你就能看到他们内心深处对什么事是最重视的。”快手商业化一位负责人对此深有体会。\n另一位深有体会的是快手科技商业收益管理中心总经理曹世博。商业分析出身的曹世博2018年初加入快手，辗转过多个部门，均涉及商业化。\n“正式启动商业化业务前，我们花了大量时间做基础工作，包括算法、用户体验体系、审核体系等，很多战略层面的思考和准备，核心就是赚钱可以，但不能伤害用户体验。”曹世博说。\n后来，快手搭建了一个比较完备的指标体系，通过引入经济学模型去衡量，如果这个流量做广告变现会赚多少钱，又会损失多少DAU，通过体系化的指标、监测确保用户体验。\n“直到今天，我们内部对于用户看广告的频次有着非常严格的控制和机制，并且严控广告内容的质量。”曹世博说，他们投入了几百人花几个月之间去给用户打标签，以确保算法推荐和人群定向的精准。\n当这些基础工作搭建完成，快手商业化体系推出，磁力引擎上线后，快手线上营销收入直线上升。2019年，快手线上营销收入74亿，2020年上半年72亿，全年219亿，增速超过200%。\n曹世博表示，2021年快手商业化无论品牌广告主的数量、联盟广告以及更多广告形式的开拓，都在大大拓展快手线上营销收入的增长空间。\n与快手商业化拓土的经历类似，快手电商副总裁、平台体验负责人罗琼刚加入快手的时候，也“非常不适应”。\n罗琼在传统电商平台工作了15年，但业界非常成熟的促销、卖流量逻辑，在快手常常会撞在“社区生态”的墙上。\n对她来说，任务不是去创造多少GMV，而是构建商家、主播与消费者之间的信任度，提升社区价值，把蛋糕做大。\n“传统电商非常依赖货，快手其实非常依赖人，这种差异对传统电商从业者来说，重心有非常强烈的偏移，而且你会发现从社区到人，再到交易转化，这是个慢反射，不像效率型电商，短期效益很漂亮。”罗琼说，快手希望建立一种全新的电商形态，它基于人与人之间的连接和信任。\n这种基于短视频和直播建立的新型信任关系，需要时间沉淀，但想象空间足够大。2020年，快手电商GMV达到3812亿，两年增长了4000倍，用户平均复购率更是高达65%。\n2021年，快手进一步提出信任电商概念，以极致信任构建快手电商的心智和认知，希望用崭新方式重构十亿消费者的决策。实际上，快手电商的崛起，已经在改变传统电商行业格局。\n\n更重要的是，快手基于直播、广告、电商所搭建的商业生态，正在反哺数千万内容创作者，让他们在这个社区活得更好，商业生态正在与内容生态形成相互促进的正循环。\n这种正循环对于支撑快手的愿景尤为重要。过去十年，快手其实是互联网领域一个独一无二的社会实验，关注普通人，平等普惠。这样的实验一开始很顺利，后来遇到了的挑战，而内容生态系统和商业生态系统双轮驱动可以让这架战车更平稳前进，而快手能不能进一步成功，也可以验证互联网对人类来说是个什么性质的工具——统治人，还是让人更平等。\n从平等普惠，到温暖信任，快手下一个十年的故事正由此拉开序幕。","news_type":1,"symbols_score_info":{"90022":0.9,"01024":0.9}},"isVote":1,"tweetType":1,"viewCount":1616,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}