Videos, KOLs make apps profitable

Yixia Tech, a Beijing-based firm that operates Yizhibo, an online video service in the mold of YouTube, has teamed up with Chinese social media giant Weibo to add a new dimension to the world of app-based business.

It has added new interactive features to its video content and offers access to key opinion leaders or KOLs.

The move follows rising popularity of livestreaming and short videos among the millennials.