- Alibaba Group Holding Ltd (NYSE:BABA) owned online shopping platform Taobao launched an interest-oriented community app called "Yousha" Pandaily reports.
- TikTok parent ByteDance Ltd's news and information content platform Toutiao tested a smart reading app called "Shiqu."
- The report adds that both the apps drive social interaction with personal interests, creating an interactive platform similar to friend circles.
- Yousha pays attention to recommending content to its users, hoping to encourage them to consume products on Taobao.
- ByteDance's Shiqu focuses on reading content based on personal interests.
- The Yousha app promotes itself as a "research institute" of good products with exciting trends. People with similar preferences can gather to share high-quality items and get to know each other.
- Price Action: BABA shares traded lower by 4.24% at $118.00 on Monday's last check.
