Zhihu is a large online content community in China built around expert-driven Q&A, now expanded to include articles, videos, and live streaming. The platform has accumulated nearly 954 million pieces of content from over 80 million cumulative creators across more than 1,000 topic verticals. Zhihu's core value proposition is trustworthy, experience-based content contributed by verified professionals — reinforced by community mechanisms like upvotes and professional identity verification. Zhihu operates three revenue streams: paid membership (~52% of recent quarterly revenue), marketing services (~37%), and other services (~12%). The Yan Selection subscription gives paying members access to a premium content library including fiction, non-fiction, audiobooks, and live lectures, with short-form fiction brand Yanyan Story playing a growing role. Marketing services include display advertising and content-commerce solutions, where brands embed commercial content natively into Q&A and article flows — a format that Zhihu argues has a longer shelf life than standard display ads. Other revenues include vocational training, e-commerce commissions, and IP licensing. Because most content is user-generated rather than commissioned, Zhihu's gross margins are structurally higher than traditional media peers. Zhihu achieved its first full-year non-GAAP profitability in 2025, driven largely by cuts to user acquisition spending. Looking ahead, Zhihu is investing in Zhihu Zhida, an AI-powered search and answer product, and positioning its expert-sourced content library as a source of high-quality AI training data.