Kling valued near $18B as Kuaishou restructures ahead of a possible 2027 IPO
Kuaishou's video-generation unit Kling has reportedly raised about $3 billion at a post-money valuation of roughly $18 billion and has picked underwriters for a Hong Kong listing as early as 2027, according to TMTPost. On Sept. 30 Kuaishou said senior vice president Yu Yue would become Kling's full-time CEO while founder Cheng Yixiao took over its community science line; under an earlier restructuring plan Kuaishou's stake would be diluted from 100% to about 68.33%, with Yu receiving 3% of equity carrying ten votes per share plus 1% in options. Kling's second-quarter revenue topped 850 million yuan, up more than 200% year on year, while Kuaishou group revenue grew just 1.4%; on Artificial Analysis's audio-enabled text-to-video leaderboard as of Oct. 15, Kling 3.0 Omni and 3.0 Pro ranked 15th and 16th, and Kling 4.0 Flash opened to some annual-plan users in late September with a full release planned this month.
Kling's spinoff and governance terms are an early test of how a big platform's internal AI asset is priced and listed, showing video-generation competition increasingly runs through capital and corporate control.