Core Viewpoint - The article discusses the decline of Hupu, a once-prominent sports community platform in China, highlighting its struggles in monetization and user retention, especially in comparison to competitors like Xiaohongshu and Dewu [1][4][18]. Group 1: Hupu's Historical Context - Hupu was once the largest sports vertical portal in China, known as a "paradise for straight men," but has faced significant challenges in recent years, including failed IPO attempts and a drastic reduction in monthly active users [1][4]. - The platform's peak was marked by a significant increase in user engagement, but it has since lost its competitive edge, with monthly active users dropping from 55 million in 2017 to less than 10% of that figure by 2021 [11][18]. Group 2: Business Model and Revenue Challenges - Hupu's revenue heavily relied on advertising, with 90% of its income coming from this source after business restructuring [6][18]. - Various attempts to diversify revenue streams, such as sports events and e-commerce initiatives, have largely failed, leading to significant financial instability [5][6][15]. - The platform's earlier e-commerce venture, Calorie Mall, was shut down after only two years, indicating difficulties in converting user engagement into sales [3][6]. Group 3: Comparison with Competitors - Hupu's struggles are contrasted with the success of Dewu, which has effectively monetized its user base and achieved a valuation of over 10 billion RMB, while Hupu's valuation has plummeted to 500 million RMB [14][15]. - Xiaohongshu has successfully attracted male users and significantly increased its user base, while Hupu has failed to adapt to changing market dynamics [10][11][18]. Group 4: Future Outlook - Despite its challenges, Hupu has maintained profitability since 2021, with its CEO claiming the platform is "doing well" [18]. - The company is shifting its focus back to its core community of straight male users, suggesting a potential strategy to reclaim its niche in the market [19].