What Zhihu does

Zhihu Inc. operates China's largest Q&A-inspired online content community, founded in 2010 and headquartered in Beijing. The platform serves Chinese internet users seeking solutions, decision-making support, professional insights, and entertainment through user-generated questions, answers, articles, and discussions. Zhihu is dual-primary listed on the New York Stock Exchange (NYSE: ZH) since March 2021 and the Hong Kong Stock Exchange (HKEX: 2390) since April 2022.

The core product is the Zhihu Q&A platform, augmented by zhida.ai (launched July 2024), an AI-driven tool that delivers summarized, source-cited responses built on partner Model Best's Zhihaitu model. The product surface also includes the Yanyan Story international content IP licensing platform (launched October 2025). Monetization flows through four channels: (1) paid memberships — the largest revenue stream at RMB 333.5M in 2025 with 12.2M average monthly subscribers; (2) marketing services and advertising to brand and SMB advertisers; (3) vocational training for professional learners; and (4) content IP licensing including international short-form literature distribution.

The business model is community-led with a horizontal segmentation across consumer knowledge-seekers, advertisers, and professional learners. Distribution is primarily through Zhihu's owned web and mobile platform in China, supplemented by Yanyan Story's global licensing channel. Recent operational priorities have been AI integration and structural cost optimization, with the company achieving its first full-year non-GAAP profit (RMB 37.9M) in 2025 and adjusted net income up 147.2% YoY in Q1 2026, even as total revenues declined 10.7% YoY in Q1 2026 to RMB 651.6M (US$94.5M).

Name

Zhihu

Legal name

Zhihu Inc.

Website

https://ir.zhihu.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Zhihu Inc. is China's largest Q&A-inspired online content community, serving Chinese consumers seeking knowledge and decision support, alongside advertisers, through paid memberships, marketing services, vocational training, and content IP licensing.

Ownership category

akta.pro rank

Product category

Online Knowledge Community (Q&A Content Platform)

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210), Web Search Portals and All Other Information Services (519290)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Q&A and Knowledge Discovery Platforms (BPAMAAAF)

akta.pro secondary industry

Q&A Knowledge Communities (MPACAJAD)

Keywords

• Online Q&A community
• Knowledge sharing platform
• Paid membership service
• Digital advertising services
• Vocational training

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Marketing services: Advertising and marketing services provided to businesses on the platform
2. Paid membership: Subscription-based premium content and features for members; the largest revenue source historically
3. Vocational training: Professional and career development training services
4. Content IP licensing: Monetization of content intellectual property including Yanyan Story platform for short-form literature licensing internationally

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Zhihu operates China's largest Q&A-inspired online content community, where users find solutions, make decisions, seek inspiration, and share knowledge through user-generated content. The platform monetizes a deeply engaged professional user base through paid memberships (the largest revenue stream), marketing/advertising services for businesses, vocational training programs, and an international short-form literature IP licensing platform (Yanyan Story). An AI-powered Q&A assistant (zhida.ai), built in partnership with Model Best using the Zhihaitu AI model, enhances content quality and user engagement.

Product overview

Zhihu operates as a multi-channel, content-centric platform centered on its core Q&A community—the largest in China—augmented by AI-powered features and international content licensing. The platform's main offerings include the core Zhihu Q&A community enhanced by zhida.ai (AI-generated summarized responses), paid membership subscriptions, marketing services, and the Yanyan Story platform for short-form literature IP licensing internationally.

Differentiator

Problem solved

Functional benefit

Products and services

• Zhihu Q&A Platform China's largest Q&A-inspired online content community where users find solutions, make decisions, seek inspiration, and share knowledge through user-generated content. Free to access via web and mobile applications in China.
• zhida.ai AI-driven Q&A tool that provides users with summarized and detailed responses supported by source citations, developed in partnership with Model Best using their Zhihaitu AI model. Deployed within Zhihu's Q&A platform.
• Yanyan Story Platform International content IP licensing platform for Chinese short-form literature, promoting Chinese online literature globally with adaptations across multiple formats (film, TV, audio, animation) and languages. Over 100 titles adapted for various media.
• Zhihu Paid Membership Subscription-based premium membership service offering exclusive content and features to subscribing members. The largest revenue source for Zhihu, generating RMB 333.5 million in 2025 with 12.2 million average monthly subscribing members.
• Marketing Services Advertising and marketing services provided to businesses on Zhihu's platform, leveraging the engaged user base for brand visibility and targeted audience reach.
• Vocational Training Professional and career development training services offered to users seeking career advancement and professional skills training on Zhihu's platform.

Quantifiable outcome

• First full-year non-GAAP profit in 2025: RMB 37.9 million
• +2 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Model BestcoreTechnology or Integration · 1 July 2024Zhihu partnered with domestic AI startup Model Best to develop zhida.ai, an AI-driven Q&A tool. The tool uses Model Best's Zhihaitu AI model to provide users with summarized and detailed responses supported by sources, enhancing the platform's AI capabilities.
• PricewaterhouseCooperscoreOthersZhihu's independent auditing firm as disclosed in investor resources. PwC audited the company's consolidated financial statements for fiscal year 2025.
• 北京面壁智能科技有限责任公司 (Beijing Baimai Zhineng Technology)minorStrategic or Co-development PartnerInvested company in Zhihu's portfolio. Zhou Yuan serves as director since January 2024. Li Dahai serves as director since March 2023 and CEO since June 2023. Part of Zhihu's strategic investment in AI technology.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Emerging players

• Stack Overflow: Stack Overflow is a professional Q&A platform focused on technical and programming topics. While narrower than Zhihu, both share a similar model of community-curated expert answers, ad/membership monetization, and an emphasis on high-quality professional content from credible contributors.
• Xiaohongshu (RED): Xiaohongshu is a leading Chinese lifestyle content community with strong user engagement and community-driven reviews. Both platforms monetize through advertising and influencer marketing, though Xiaohongshu focuses on lifestyle while Zhihu targets knowledge and professional content.

Direct peers

• Quora: Quora is the global English-language counterpart to Zhihu—a Q&A community where users post questions and receive answers. Both platforms monetize through advertising and premium subscriptions, and compete on the quality and depth of professional user-generated content.
• Reddit: Reddit is a community-driven discussion platform organized around topic-based subreddits with strong Q&A elements. Both platforms rely on user-generated content, community moderation, advertising, and premium memberships (Reddit Premium vs. Zhihu Salt), making them direct comparables in social knowledge communities.
• Sogou Wenwen: Sogou Wenwen is a Chinese Q&A platform operated by Sogou (a Tencent-backed search company). It is a direct competitor in the Chinese Q&A market with similar ad-supported monetization, though Zhihu's community-driven approach and professional content focus differentiate it.
• Baidu Zhidao: Baidu Zhidao is Baidu's Q&A platform integrated into China's dominant search engine. It competes directly with Zhihu in the Chinese Q&A market with a larger search-driven user base, though typically with lower-quality professional content—making Zhihu the premium alternative.

Broad incumbents

• Bilibili: Bilibili is a leading Chinese video community with strong user engagement, advertising, and premium subscription models. While primarily video-based, both platforms share a community-driven content model, professional creator base, and dual NYSE/HKEX listings with similar investor profiles.
• Tencent (QQ/WeChat): Tencent is the largest Chinese internet conglomerate operating WeChat and QQ super-apps. As a major Zhihu shareholder with board representation, Tencent is both a strategic partner and a broad incumbent whose ecosystem could absorb or compete with Zhihu's community features at scale.
• Kuaishou: Kuaishou is a major Chinese short-video platform and a prior lead investor in Zhihu. Both operate community-driven content platforms targeting Chinese consumers with advertising and live-streaming monetization, and Kuaishou's board representation on Zhihu shows strategic alignment.
• Weibo: Weibo is a major Chinese social media platform with public microblogging, advertising, and membership products. While broader in scope than Zhihu, both serve Chinese consumers seeking content and engagement, and compete for advertising budgets from the same brand customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/wenzhihu

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zhihu