Kuaibo
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Kuaibo (QVOD) was a Chinese video player founded in 2007 in Shenzhen by Wang Xin. Built on proprietary P2P streaming technology that enabled smooth play-while-downloading with low resource use, it became one of China's most popular desktop video players, peaking at over 400 million users. It fell in 2014 when it was investigated for copyright infringement and distributing obscene content: Tencent's complaint led to a RMB 260.148 million piracy fine, services were shut down, and founder Wang Xin was sentenced to three and a half years in prison in September 2016 for profiting from distributing obscene materials.
02 / Kuaibo FAILURE REASONS
Failure factors
Shenzhen QVOD Technology Co., Ltd. (快播) could not pay matured debts (~RMB 9.74m goods + interest owed to Shenzhen Golden Asia Pacific) and clearly lacked repayment capacity after bank accounts were frozen by other authorities, so the court accepted the creditor's bankruptcy-liquidation petition.
Court found company unable to repay confirmed matured debt and clearly lacking repayment capacity.
Execution records cited bank accounts frozen by other authorities, leaving no executable property.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
China.com (4 Sep 2018) citing national bankruptcy-case network: Guangdong Shenzhen Intermediate People's Court ruled the creditor's bankruptcy-liquidation application against Shenzhen QVOD Technology Co., Ltd. effective (ruling dated 23 Aug 2018). Later court/media record declares bankruptcy for insolvency and eventual deregistration.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Kuaibo (QVOD) was founded in 2007 in Shenzhen by Wang Xin, built on proprietary P2P streaming technology, peaking at over 400 million users.
- 02
In April 2014 the service was shut down amid investigation for copyright infringement and obscene content; in June 2014 it was fined RMB 260.148 million for piracy.
- 03
In September 2016 founder Wang Xin was sentenced to three and a half years in prison for profiting from distributing obscene materials.
- 04
The record marks 2018 as the liquidation event for Kuaibo; public sources describe the company's bankruptcy liquidation process around 2021.
- 05
No audited loss figure was disclosed.