Communication Mar 24, 2021 05:33 PM (GMT+8)
The average daily active users continued to grow and are now 264.6 million (+50.7% YoY). The expectations in terms of revenue were not meet because they only achieved revenue of CNY 58.8 billion (YoY 50.2%). The net loss has now increased by a factor of five toCNY CNY 103.2 billion in 2020. The reason is an increase in the fair value of "convertible and redeemable preferred shares". Also interesting to see is that the revenue drivers clearly shifted from live streaming to online marketing services. In Q4, online marketing services were the largest revenue driver for the first time.
This briefing is contributed by and first appeared on CIMK.