The Business Model Transformation of Short-form Video Enterprise Based on Business Model Canvas: A Case of KWAI

The rapid development of short-form video is a vital topic worldwide. Clarifying the business model transformation of short-form video enterprise has both theoretical and practical significance. Based on the nine elements of business model canvas, this research tried to explore how China's first short-form video producer Kwai became one of the market leaders in the competitive market. This research adopts an exploratory single case study as the research method. According to time series analysis, the development of Kwai can be divided into 4 stages (2011-2021). Important milestone events are chosen to emphasis the business model transformation of Kwai, and the nine elements shows different characteristics in each stage. Finally, business model transformation in the four stages from start-up till present as well as how Kwai creates value are summarized. This study contributes to provide a holistic perspective on the evolution of business model transformation. Moreover, it provides new ideas based on the business model canvas and nine elements for business model transformation and innovation.