On October 29, Kuaishou Technology issued an announcement that Su Hua, a 39-year-old co-founder of the company, resigned as CEO and was taken over by co-founder Cheng Yixiao. After that, Su Hua will continue to serve as the chairman, executive director and member of the remuneration committee of Kuaishou, while Cheng Yixiao will be responsible for the daily operation and business development of the company as the CEO, and report to Su Hua. This is the biggest personnel change since Kuaishou went public.
Kuaishou believes that with the change of management roles, Suhua will focus more on the overall strategic planning and development of the company, and will have more time and energy to invest in the exploration of new directions; Cheng Yixiao will focus on the company's overall business and operation management. This adjustment is expected to further improve the company's organizational efficiency and management efficiency, and better promote the company's overall business development.
Kuaishou is one of the most high-profile growth cases in the venture capital circle in the past decade, and Su Hua is one of the soul figures. In 1982, Su Hua was born in Yongshun County, Xiangxi Prefecture, and was successfully admitted to Tsinghua University when he was a child, and after completing seven years of study, he chose to withdraw from school when he was studying for a doctorate. After that, he has been responsible for the research and development of back-end technologies such as search and recommendation algorithms and system architecture in leading Internet companies such as Google and Baidu.
Before becoming Kuaishou, Su Hua experienced entrepreneurial failures and the acquisition of alibaba by the technology company he co-founded. Su hua, who realizes financial freedom, was introduced by Zhang Fei, a partner of Morningside Capital, in 2013, and Cheng Yixiao, who knew Kuaishou, started a business together, and Kuaishou can be said to be Suhua's third entrepreneurship.
In 2011, Cheng Yixiao launched the original mobile application "GIF Kuaishou" for users to create and share GIFs. In 2013, Su Hua joined Kuaishou as CEO, and Cheng Yixiao served as chief product officer. After that, Su Hua introduced the algorithm recommendation system and joined hands with Cheng Yixiao to create the short video era.
Today, these two post-80s programmers have created a giant Chinese short video, which successfully landed on the Hong Kong Stock Exchange this year, with a market value of more than 1.4 trillion Hong Kong dollars at one point, and the latest market value is more than 400 billion Hong Kong dollars.
Red Network Moment reporter Zhang Jiao sorted out the report
Source: Beijing Daily, Science and Technology Innovation Board Daily