ByteDance rival Kuaishou to shut down video app Zynn

·1 min read
The logo of online video service operator Kuaishou Technology is seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai

BEIJING (Reuters) -ByteDance rival Kuaishou Technology said on Wednesday it would stop services of its short video app Zynn, operated in the United States, on Aug. 20.

The company's other products for markets outside China will not be affected, Kuaishou said in a statement. "Our strategy for the international markets remains unchanged," it said,without providing a reason for Zynn's shutdown.

Apart from Zynn, for markets outside China, Kuaishou operates Kwai, which is mainly popular in South America, and Snack Video.

A reward system that offers users cash or gifts for signing up and referring friends helped Zynn to top U.S. app download charts last year.

The Tencent-backed short video apps developer also operates the Kuaishou app and competes with ByteDance's Douyin for the Chinese market.

(Reporting by Yingzhi Yang and Brenda Goh; Editing by Jacqueline Wong and Barbara Lewis)

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