![]() ACFun’s losses last year exceeded $15.5 million (RMB100 million). The value of the deal was not disclosed, though local media has speculated that it was completed for less than $115 million (RM7B50 million). ![]() It is backed by social media and games giant Tencent, which operates Tencent Video, one of the big three generalist platforms. Kuaishou, recently valued at $18 billion, specializes in youth-friendly user generated short form content. And earlier this year its site went dark for a couple of weeks, apparently having failed to pay its server bills. It has had several run-ins with Chinese regulators over its content. But it will need to lean on Kuaishou for capital and tech support.ĪCFun had been in the news for all the wrong reasons. According to reports, it will retain its operational independence in branding and development. The move is part of the intensifying competition process among specialty streaming operators in China.ĪCFun, which stands for animation, comics and fun, has been around since 2007. ![]() Both firms have been targets of this year's government crackdown on internet sleaze.Chinese streaming video startup Kuaishou has acquired longer-established, but smaller rival ACFun. Major short-video streamer Kuaishou bought AcFun early this month to enrich its fanbase at an estimated price of CNY1.03 billion (USD162 million). Kuaishou will provide technical and capital support to AcFun to help it enhance user data security to avoid similar incidents, the Tencent-backed video streaming parent firm said in a statement. Bilibili and regulation: How one video company is thriving on youth-generated content. Although less known than its Nasdaq-listed rival Bilibili, AcFun was China’s first video platform that features real-time commentary subtitles that can overlay the video. The leaked data includes user IDs, nicknames, and encrypted passwords. AcFun was founded in 2007 and is famous for animation, comic and game related content. The firm, which recently changed owners, has admitted the security measures were insufficient. (Yicai Global) June 14 - Hackers have stolen nearly 10 million items of user data from Chinese anime barrage video platform AcFun. Kuaishou Technology, AcFun's parent company said it is very concerned about the data hack's impact on users. Hackers Steal 10 Million AcFun User IDs, Passwords. Users should also modify the keys to accounts on other platforms if those use the same passwords or nicknames, reminded security expert Tian Jiyun. Still, those who have simple passwords should change them just in case. ![]() The Beijing-based company has sent reminders to users to change their passwords and posted related alerts on its website and social media accounts, the Beijing News reported.ĪcFun has already stepped up its security so if users log in now, their data will be automatically hidden by a better protocol. The leaked data includes user IDs, nicknames, and encrypted passwords. ![]()
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