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VUE Vlog to Suspend its Operation

via:凤凰网     time:2022/7/2 6:00:19     readed:229

Beijing, July 1 (TMTPOST) – Chinese short video platform VUE Vlog, owned by Chinese tech giant Tencent, announced on Friday that it would suspend operation on September 30, 2022.

The short video platform also announced that its mobile app had already been removed from all marketplaces due to strategic adjustments.

Starting from July 1, VUE Vlog will stop registering new users or providing top-up service. The company will also shut down some of the features on its mobile applications. Registered users can still log into the platform, browse content and download videos from VUE Vlog.

VUE Vlog also said in the announcement that it would remove all of the data of accounts on VUE Vlog (including but not limited to virtual currency and uploaded videos) after the suspension of its operation.

Users who have purchased membership can continue to log into VUE Vlog and use relevant membership services until their membership ends.

Founded in March 2016, VUE Vlog started as a short video filming and editing application. It changed its product name to VUE Vlog in December 2018, shifting its market positioning from video-editing tool to vlog community.

After transitioning to a vlog community, VUE Vlog accumulated 12 million registered users. In 2019, there were over 100 million users already. The application was recommended on the App Store’s front page in over 120 countries.

VUE Vlog was fully acquired by Tencent in September 2020 at the price of nearly US$50 million. The transaction was completed in cash. VUE Vlog received financing from Joy Capital, Unity Ventures, Bertelsmann Asia Investment and ZhenFund, etc.

The company’s founder Kuang Fei told media that the company’s vision is to become China’s Instagram and build a video-editing and sharing tool for mobile users. Kuang said he shared the company’s vision with the company’s angel investors in 2016.

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