Wednesday, 2024 April 24

Tencent-backed Kuaishou invests in comic startup Crossingstar as China’s manga scene grows

China’s second-largest short video platform Kuaishou reportedly invested in local manga startup Crossingstar, the second deal in the country’s online manga sector over a short time span, signaling a growing online comic and animation scene in China.

Tencent which backs Kuaishou just invested USD 125 million in Kuaikan, which runs a comic app and a community for comic fans, KrASIA reported last week.

Crossingstar was founded in 2013 by Lv Munan in Hangzhou, capital of east China’s Zhejiang province. Lv is a comic scriptwriter herself.

A total of 12 works from Crossingstar is now available on Tencent’s own comic platform

Kuaishou has not responded to KrASIA‘s request for a comment on this deal, while the value of the deal is not disclosed in the company’s registration information with the local authority.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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