Meituan Reportedly Boosts Kuaishou Users' Access to Sales Tools in Extended Partnership

MT Newswires Live07-15

Chinese on-demand service provider Meituan (HKG:3690) will grant users of the short video platform Kuaishou Technology (HKG:1024) increased access to sales tools such as group buying, exclusive memberships, and flash sales, multiple media outlets reported Monday.

The increased access, first reported by 36Kr, citing a Kuaishou insider, forms part of a renewed strategic partnership after the companies' three-year agreement expired recently.

The extended partnership will see Meituan using Kuaishou's online traffic, reports said. Meituan reported a 5-percentage-point growth in monthly order conversions via Kuaishou's live streams this year.

Meituan's shares fell almost 2% in recent Monday trade, while Kuaishou Technology's shares tumbled close to 3%.

Price (HKD): $119.900, Change: $-1.900, Percent Change: -1.56%

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