China roundup: TikTok teams up with US-based Square, and other news

TikTok teams up with Square to tap into social ecommerce market

• The partnership will let merchants drive TikTok users to their online stores, which were built using US-based fintech firm Square.
• The new product will be similar to Douyin, TikTok’s China-only version, which also directs its viewers to local ecommerce platforms.
• A 2020 global survey of downloads shows that TikTok is the only app not owned by Facebook included in the top five most downloaded apps worldwide.

Kuaishou restructures internal divisions after drop in Q2 user activity

• The short-video platform developer is reorganizing its internal divisions based on business lines after user activity slowed down in the second quarter of 2021. This led to a decline in Kuaishou’s shares by 80% since it hit record levels in February.
• The restructured units will reportedly be similar to those seen in Tencent, Alibaba, and Meituan.
• Kuaishou is also revamping its core business as it looks to strengthen its ecommerce, overseas markets, and gaming units.

Health management startup launches “smart” toilet

• Geometry Healthcare has launched a smart toilet seat that tracks about 30 measurable body characteristics. Called Synsol, it helps users assess their health and prepare customized disease-prevention programs.
• The startup offers health management programs that cover areas such as testing, nutrition, psychological stability, and easing urination.
• Geometry Healthcare also aims to launch other smart home products, including a smart mirror and a smart toothbrush.