Business
Kling Raises $2.8 Billion Amid Planned Spinoff From Kuaishou
Kuaishou Technology’s 1024 -0.09%decrease; down pointing triangle Kling has raised $2.80 billion from investors, as the short-video company seeks to spin off and list its artificial-intelligence video unit.
Venture capitalists and other investors have injected 19.04 billion yuan, or $2.80 billion, into Kling, Kuaishou said late Thursday. Additional investors could still join this funding round, potentially taking the total investment as much as $3 billion, it added. Kuaishou’s stake in Kling could fall to as low as 68.33% after the capital injection.
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