ByteDance (字节跳动)
Fast facts
- Year Founded
- 2012
- HQ Location
- Beijing, China
- Publicly Traded?
- No
Planned an IPO for this year but canceled its plans after meetings with government officialsSource: WSJ www.wsj.com/articles/bytedance-shelvedipo-intentions-after-chinese-regulators-warned-about-data-security-11626078000
- Overseas Operations
- Yes
Behind China’s most successful global app, TikTok, which has over 1 billion monthly users, ByteDance is an international force, holding offices in 126 cities and carrying products available in over 150 markets. The company has hired thousands of employees across the US, Europe, and other markets in the past 2 years. After first purchasing Musical.ly — a social video app that would soon evolve into TikTok — for $900 million in 2017, ByteDance’s rise has been meteoric and TikTok has become ubiquitous across the globe.Source: Harvard Business Review hbr.org/2019/09/the-strategy-behind-tiktoks-global-rise
- US Sanctions
- No
- Military Affiliation in China
- No
Revenue
This figure is for full year 2020. More recent reports indicate the company is on track for significant revenue growth in 2021Source: WSJ www.wsj.com/articles/tiktok-owner-bytedances-annual-revenue-jumps-to-34-3-billion-11623903622
Valuation
Anonymous, gray-market, online trades have valued the company at up to $400 billion.Source: South China Morning Post www.scmp.com/tech/big-tech/article/3152326/tiktok-owner-bytedances-valuation-reaches-us400-billion-anonymous
Employees
Source: Financial Times www.ft.com/content/5c10ed57-16b6-43f9-882d-d2cb9837fdc7
ByteDance (字节跳动) is an internet technology company known for its video-sharing platforms TikTok and Douyin, and Toutiao (“Headlines”), a popular news recommendation app. It was founded by Zhang Yiming, Liang Rubo, and others in 2012. By the end of 2020, ByteDance had 1.9 billion monthly active users across all of its platforms.
Backed by powerful private equity firms like KKR, Hillhouse, and Sequioa Capital, the Chinese government recently purchased a 1% stake and board seat in ByteDance through WangTouZhongWen Technology.
- - Liang Ru Bo, (梁汝波), Chief Executive Officer (Global) & Chairman (Global) - Zhang Li Dong (张利东), Chairman (China) & Head of Commercialization Business - Zhang Nan (张楠), Chief Executive Officer (China) - Chen Lin (陈林), Chief Commercial Officer - Yang Zhen Yuan (杨震原), Vice President - Chew Shou Zi (周受资), Chief Executive Officer (Tiktok) - Xie Xin, (谢欣), Head of Feishu Business - Yan Shou (严授), Head of Gaming - Hua Wei (华巍), Head of HR and Management Office
Source: Wechat mp.weixin.qq.com/s/TkpV2ux3ibqj372c39cApg
Behind China’s most successful global app, TikTok, which has over 1 billion monthly users, ByteDance is an international force, holding offices in 126 cities and carrying products available in over 150 markets. The company has hired thousands of employees across the US, Europe, and other markets in the past 2 years. After first purchasing Musical.ly — a social video app that would soon evolve into TikTok — for $900 million in 2017, ByteDance’s rise has been meteoric and TikTok has become ubiquitous across the globe.
Source: Harvard Business Review hbr.org/2019/09/the-strategy-behind-tiktoks-global-rise
ByteDance Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.
In August 2020, President Trump signed an executive order that would ban U.S. transactions with ByteDance following a 45-day period. Citing “disinformation campaigns that benefit the Chinese Communist Party,” Trump’s proposed ban targeted TikTok, the popular app that he labeled a national security concern. Following his first executive order, Trump ordered ByteDance to divest from its U.S. TikTok business within 90 days, which resulted in a deal in which Oracle and Walmart partnered with TikTok in the U.S.
ByteDance Reputational Disclosures
- March 2021 – Chinese regulators met with ByteDance to discuss deepfakes and the security implications of forged media representations.
- April 2021 – China’s financial watchdogs summoned ByteDance to regulatory interviews as part of the government’s antitrust probe.
- July 2021 – Due to the wishes of Chinese regulators, ByteDance has been blocking new user and content creator registrations for its Chinese news aggregator Toutiao. Toutiao is ByteDance’s second-largest ad revenue source in China following Douyin, and these regulations come on the heels of China’s probe into Didi following its IPO.
- July 2021 – ByteDance placed its ambitions to list offshore on hold following a warning from government officials about cybersecurity risks.
Source: 1. YiCai Global 2. SupChina 3. Reuters 4. WSJ 1. https://www.yicaiglobal.com/news/chinese-regulators-tell-alibaba-bytedance-nine-others-to-clean-up-deepfakes 2. https://supchina.com/2021/04/30/chinas-antitrust-probe-tencent-and-meituan-are-next/ 3. https://www.reuters.com/technology/bytedances-toutiao-ordered-by-china-halt-new-registrations-since-sept-sources-2021-07-16/ 4. https://www.wsj.com/articles/bytedance-shelvedipo-intentions-after-chinese-regulators-warned-about-data-security-11626078000
The latest news on ByteDance from SupChina
ByteDance wants users to pay for minute-long videos
Can the Chinese tech company behind TikTok and its Chinese version, Douyin, succeed where Hollywood-backed Quibi failed and get people to pay for short mobile phone films?
Chinese tech philanthropy in the age of ‘common prosperity’
In China, tech companies are facing particular pressure to showcase social responsibility. Xi Jinping acknowledged that the “new round of technological revolution and industrial transformation is giving a strong impetus to economic development.” However, he also pointed out that its negative effects on employment and income distribution need to be “effectively addressed and resolved.”
ByteDance cuts working hours of China office, implements new schedule of ‘10-7-5’
The company behind TikTok has announced new rules to stop overtime work, limiting office hours to 10 a.m. to 7 p.m. on weekdays. The Chinese internet is cheering, but also somewhat skeptical.
Chinese investors pile into ‘metaverse,’ despite official warnings
“Investment is not a virtual game,” a commentary in state-run Chinese media said earlier this month, warning investors to avoid augmented and virtual reality “metaverse” products. Investors did not listen — Beijing-based Nreal, an augmented reality technology company, just completed a Series C funding round of over $100 million.
China steps up antitrust campaign with new draft rules targeting internet companies
China’s State Administration for Market Regulation published a set of draft regulations on internet companies that was remarkable for its detailed list of prohibited behaviors.
TikTok brain drain as head of AI lab leaves ByteDance?
The head of an artificial intelligence lab at the company behind TikTok has left the private sector in China to join the University of California at Santa Barbara.
On a dry spreadsheet, lives to be saved: How a collaborative document helped flood rescue efforts in Zhengzhou
As floodwaters in Henan Province recede, China’s tech giants are doing their best to do their civic duty with large aid donations and online tools to help victims.
ByteDance finally reads the room and cancels six-day work weeks
ByteDance, the hard-charging Chinese tech giant that created TikTok, has ended an overtime policy after a month of dithering, and after one of its biggest rivals took concrete steps to end its corporate culture of overwork.
Kuaishou shows ByteDance that fighting overwork isn’t that hard
One of China’s biggest video apps, Kuaishou, once installed sensors in toilets to monitor how long employees took in the bathroom. Now the company has put an end to six day work weeks for tech staff, shortly after ByteDance — which owns China’s dominant short video platform — decided to continue the practice.
The people who work for TikTok are workaholics and they want more!
ByteDance, the company behind TikTok, is famous for its workaholic culture, and many of its employees don’t want it to change despite growing calls in China for better work-life balance at tech companies.
The latest news on ByteDance from across the web
China Fines Alibaba, Tencent in Latest Antitrust Investigation
Just another day in antitrust enforcement: “Alibaba, Tencent, and Baidu are the target of another round of antitrust fines on Saturday [November 20] totaling 21.5 million yuan ($3.4 million),” per Bloomberg via Caixin. Other big names in China tech such as JD.com, ByteDance, and Meituan were also “fined 500,000 yuan ($78,000) for each violation” of antitrust law, TechNode reports. Caixin notes that the “first salvo since the appointment of Gān Lín 甘霖 as the head of the country’s anti-monopoly bureau” was met mostly with a shrug by markets.
Chinese netizens snap up book of quotes from ByteDance creator
Taobao sellers are hawking an unauthorized book containing all of ByteDance founder Zhāng Yīmíng’s 张一鸣 social media posts between 2010 and 2016, a period when his company grew rapidly.
ByteDance Founder Quits Board, Source Says
He quit the board, but does he still control ByteDance behind the scenes? The co-founder and chairman of the company behind TikTok, Zhāng Yīmíng 张一鸣, has relinquished his board seat at the company six months after he said he was stepping down as CEO to focus on the firm’s long-term strategy,” Caixin reports. But the South China Morning Post says he may still be pulling the strings.
TikTok Parent’s Founder Zhang Yiming Steps Down as Chairman
ByteDance chairman Zhāng Yīmíng 张一鸣 steps down, “completing a leadership transition that began in May,” reports the Wall Street Journal, or see the Guardian. Founders of other tech companies, including JD, Pinduoduo, and Kuaishou, have also retreated from top jobs in the last year.
TikTok owner restructures after tough year
ByteDance to split into six business units as outlook dims for gaming and online education
ByteDance to reorganise into six units, CFO steps down to focus on TikTok
TikTok CEO Shou Zi Chew will step down as its parent ByteDance's chief financial officer (CFO) to focus on running the short video platform full time, according to an internal memo the company shared with Reuters.
China’s biggest online celebrity drags ByteDance into a fight with agent
TikTok owner ByteDance becomes a casualty in a widely watched legal case involving one of China’s top online stars and her agency.
Is China’s virtual idol boom a trend with staying power? · TechNode
Virtual influencers gain traction: Perhaps looking to avoid scandals and controversies around human representatives, companies are turning to digital characters to promote their brands and products.
Chinese Self-Driving Startup QCraft Launches the Country’s First 5G-Based Ride-Share Driverless Bus, Blurring the Line between Robobuses and Robotaxis - Pandaily
Self-driving company hits the road: China’s first 5G-enabled, on-demand, driverless bus has been launched by ByteDance-backed QCraft.
字节又投了两家半导体公司：一家为造芯，一家指向元宇宙 | 猎云网
ByteDance news roundup: The good: the company is deepening investment in semiconductors. The bad: its IPO is likely delayed until late 2022, and in the meantime, one of its top investors wants to offload $500 million in shares.
ByteDance IPO likely delayed until late 2022, sources say
The Chinese owner of TikTok faces road blocks in its plan to go public as Beijing revises its data regulatory framework, sources told the South China Morning Post.
Top ByteDance Investor Said to Weigh $500 Million Stake Sale
Susquehanna International Group, one of ByteDance Ltd.’s earliest and largest backers, is looking to sell about $500 million of its shares in the TikTok owner, seeking to diversify its portfolio during China’s tech crackdown and profit from the startup’s growth.
TikTok Co-Founder Is China’s Richest Internet Tycoon, Forbes Says
Zhang Yiming is now the 20th richest person on the planet
China Weighs Opening Tencent, ByteDance Content to Search, Sources Say
Imagine if Facebook posts showed up in YouTube search results. Beijing may ask Tencent and ByteDance to make such a thing possible, aiming to break down barriers between tech platforms.
China’s 10-year plan for kids: more control on games and live streams
In Beijing’s latest guidelines for children’s development, Chinese leaders want tighter measures to classify games, review content and protect minors’ online privacy.
China Tells Internet Companies to Stop Blocking Links From Rivals
Tencent, Alibaba, ByteDance and other technology companies were called to a meeting with Chinese officials last week, as Beijing seeks to end a practice that has become common in the past few years.
ByteDance Is in Talks for $4 Billion in Loans as IPO Wavers
ByteDance Ltd. is in discussions for about $4 billion in bank loans, according to a person familiar with the matter, as a crackdown on China’s internet sector casts doubt over the timing of its much-anticipated initial public offering.
Chinese Tech Giant JD.com Founder Richard Liu to Step Back From Daily Business
The e-commerce company named its first president while facing tougher competition and a widening regulatory crackdown by Beijing.
China's Wants Control of Companies' Data, Not Just Access to It
Beijing is taking steps that will give the government not only access to, but purported ownership of, the vast amounts of information that companies collect.
China to Cleanse Online Content That ‘Bad-Mouths’ Its Economy
China kicked off a two-month campaign to crack down on commercial platforms and social media accounts that post finance-related information that’s deemed harmful to its economy.
ByteDance Said to Consider Buying Chinese VR Gear Maker Pico
ByteDance Ltd. is in discussions to acquire Pico, a Chinese maker of virtual reality headsets, as it seeks new drivers for growth, according to a person familiar with the matter.
Tencent Beefs Up Game Streaming Arm After China Kills Merger
Tencent Holdings Ltd. has begun re-deploying people and resources toward its own game streaming platform, after China blocked a merger that would have cemented the social media giant’s lead in a $3 billion sector.
Tencent-Backed Comics App Turns Unicorn in $240 Million Round
Kuaikan, a comics app backed by Tencent Holdings Ltd., has raised $240 million in a new funding round that elevated it to unicorn status, giving the company a boost as competition in China’s online entertainment arena intensifies.
China Steps Up Direct Involvement in Internet-Content Firms
China is taking a more direct hand in managing internet content companies by acquiring stakes, filling board seats and sending dedicated regulators to police content at firms more frequently.
China Regulatory Crackdown Mires Sequoia and Rival Venture Firms in Uncertainty
The venture firm has exposure to the online education sector that regulators have choked, and investors worry its other holdings could be next.
SoftBank to Hold Off on New Investments in China Amid Tech Crackdown
The world’s biggest tech investor said it is holding back on new investments in China while it sees how the country’s tech crackdown plays out, in the latest sign of how Beijing’s move to tame its technology sector is rippling through the investment world.
ByteDance Lays Off Hundreds After China’s Education Crackdown
TikTok-owner ByteDance Ltd. has laid off hundreds of employees as the social giant shuts down a significant part of its online education businesses to comply with Beijing’s new regulatory regime for the after-school tutoring industry.
China TikTok-Rival Kuaishou Craters, Widens China Tech Rout
Kuaishou Technology fell the most on record after a post-listing lockup on sales of its shares expired, underscoring the extent of investors’ fears about a widening Chinese online crackdown.
TikTok Tests Disappearing Stories Clone of Snapchat, Instagram
Popular video app TikTok, owned by China-based ByteDance Ltd., is testing a disappearing stories product as part of an effort to encourage more users to share content on the service.
China Orders Alibaba, Tencent, Meituan, Ant, ByteDance to Up Data Security
China ordered more than two dozen technology firms to carry out internal inspections as part of a campaign to root out illegal online activity.
ByteDance Rival Kuaishou Reports 37% Sales Growth
Revenue surges to $2.65 billion though the net loss widens amid a jump in sales and marketing costs
Update: ByteDance Founder Zhang Yiming to Step Down as CEO
The 38-year-old entrepreneur will be replaced at the end of the year by Liang Rubo, the company’s head of human resources
ByteDance Pours Cold Water on Blazing IPO Speculation
After weeks of reports and rumors, owner of TikTok declares it ‘doesn’t meet the conditions for a public listing’
ByteDance Snaps Up Mobile Legends Publisher as Gaming Tussle With Tencent Intensifies
Game-maker Moonton, which has found particular success in Southeast Asia, will remain largely independent after the deal
Baidu Takes Aim at ByteDance, Tencent With Internal Video Merger
Search giant combines Haokan and Quanmin to get bigger share of $19.3 billion market
ByteDance Tests the Waters of Cross-Border E-Commerce
Livestreaming will continue to be an effective way to bring imported brands to China.
Alibaba and ByteDance Expand in Hong Kong as Banks Pull Back
High-tech pair have both signed leases to add office space in former British colony
Tencent Agrees to Buy British Game Maker Sumo Group
Tencent Holdings Ltd. has agreed to buy the rest of Sumo Group Plc it doesn’t already own, adding to a string of gaming investments by Chinese social media and gaming giant. The British company’s shares jumped the most on record.
Xiaomi Co-Founder Lei Jun Donates $2.2 Billion of Shares to Charity
Xiaomi Corp. co-founder Lei Jun donated $2.2 billion of shares in the smartphone maker to charity, joining other technology company chieftains in giving to philanthropy amid increased scrutiny on the industry.
ByteDance's Toutiao ordered by China to halt new registrations since Sept -sources
TikTok owner ByteDance has been blocking new user and content creator registrations for its Chinese news aggregator Jinri Toutiao since September at the behest of regulators, according to people familiar with the matter.
China’s U.S. IPO Queue to Shrink Amid Regulatory Crackdown
China’s crackdown on U.S. initial public offerings by its companies has put its burgeoning pipeline of potential listings at risk.
ByteDance Shelved IPO After Regulators Warn About Data, DJ Says
TikTok owner ByteDance Ltd. is working to ensure it complies with data security requirements before going public after meetings with Chinese government officials over the issue earlier this year, people familiar with the matter said.
WSJ News Exclusive | ByteDance Shelved IPO Intentions After Chinese Regulators Warned About Data Security
ByteDance put on hold indefinitely its intentions to list offshore earlier this year after Chinese officials told the company to focus on addressing data-security risks, people familiar with the matter said.
ByteDance Denies It Is Getting Into the Securities Brokerage Business
Users of ByteDance’s new app found they could open stock accounts and initiate trades
ByteDance Promotes Two Execs to Run China Business, as Founder Looks Outward
TikTok-owner’s founder and CEO Zhang Yiming says he will stay in role but focus on global expansion plans
ByteDance to Launch Google-Like Work Tools During Outbreak
Maker of TikTok app joins Alibaba and Tencent in seeking growth from office collaboration systems, going up against Microsoft, Google, Slack
Mapping China's Tech Giants | Australian Strategic Policy Institute
Chinese technology companies are becoming increasingly important and dynamic actors on the world stage, but their growing influence also brings a range of strategic considerations.
China Mulls Closing Loophole Tech Giants Use for U.S. IPOs
Regulators in Beijing are planning rule changes that would allow them to block a Chinese company from listing overseas even if the unit selling shares is incorporated outside China, closing a loophole long-used by the country’s technology giants, according to people familiar with the matter.
TikTok Removes More Than 7 Million Underage Accounts
TikTok, the short-video social-media platform popular among teens, said it removed more than 7 million accounts belonging to children under 13 during the first quarter, taking a significant step in enforcing the required age of users on the app.
Tencent Selloff by Chinese Investors Deepen Woes Amid Crackdown
Tencent Holdings Ltd., which has lost more than a fifth of its market value in the past few months, now appears to be losing its biggest supporter: Chinese investors.
TikTok creator ByteDance hits $425bn valuation on gray market
Recent management changes hint at huge IPO in near future
ByteDance founder donates $77 million amid China billionaires' charity rush
The founder of TikTok owner ByteDance will give 500 million yuan ($77.35 million) to the Chinese city of Longyan for education, city authorities said on Tuesday, the latest charitable donation by a tech business leader as the sector comes under scrutiny.
ByteDance revenues more than doubled in 2020 to $34.3bn
Covid lockdowns help TikTok owner increase monthly users to 1.9bn across its apps
Trump’s TikTok, WeChat Actions Targeting China Revoked by Biden
The president issued an executive order mandating a broad review of apps controlled by foreign adversaries, including China.
The man who turned ByteDance and TikTok into a global sensation
Low-profile Zhang has had to face multiple challenges in recent times, including a stand-off with the US over ownership of TikTok.
TikTok owner ByteDance launches share buyback after shelving IPO plans: Report
ByteDance, the Chinese owner of short video platform giant TikTok, launched a share buyback this week for current and former employees, two people ...
Bytedance boss exits at time of uncertainty for Chinese tech firms
Analysis: political undercurrents cannot be ignored as Zhang Yiming stands down to ‘daydream’
China says ByteDance, Baidu, Microsoft improperly collected user data
China's internet watchdog said on Friday that companies including ByteDance, Baidu (9888.HK) and Kuaishou (1024.HK) had improperly collected user data.
TikTok Parent’s Founder Is Latest China Tech Boss to Step Down Amid Government Crackdown
The move by the founder of TikTok’s parent to step down as CEO makes him the latest Chinese internet entrepreneur to leave the spotlight as authorities clamp down on tech giants.
TikTok owner ByteDance continues legal battle against Tencent over fair use
ByteDance asserts that its Douyin Huoshan Version app does not infringe any intellectual property rights, arguing that users own the copyright of the content they create.
Bytedance’s E-Commerce Ambitions Look Beyond China | Jing Daily
In the run-up to an impending IPO, Bytedance is moving quickly to nab market share from Chinese tech incumbents like Alibaba via its pivot to e-commerce.
ByteDance Eyes a New $185 Billion Business Ahead of Mega IPO
Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba.
China Orders Tencent, ByteDance to Rectify Financial Operations
Chinese regulators imposed wide-ranging restrictions on the fast-growing financial divisions of 13 companies including Tencent Holdings Ltd. and ByteDance Ltd., leveling many of the same curbs employed against Jack Ma’s Ant Group Co. in a crackdown on the tech sector.
How ByteDance Could Take a Bite Out of Tencent
Tiktok owner ByteDance has already laid former rivals like Baidu and Weibo low. Tencent could be next.
Beijing-based ByteDance says it has no immediate listing plans
Beijing-based ByteDance said on Friday it had no imminent plans for an initial public offering (IPO).
China warns 34 tech firms against excess in antitrust crackdown
Chinese authorities summoned 34 of the country’s biggest internet companies on Tuesday, including Tencent, Meituan and ByteDance, ordering them to learn a lesson from Alibaba’s case, and to conduct self-inspections to comply with antitrust laws.
WSJ News Exclusive | P&G Worked With China Trade Group on Tech to Sidestep Apple Privacy Rules
Procter & Gamble helped develop an advertising technique being tested in China to gather iPhone data for targeted ads, seeking to find a way around Apple’s new privacy tools, according to people familiar with the matter.
ByteDance considers listing Douyin in New York or Hong Kong: sources
ByteDance is in talks about a possible offshore listing of its short video app Douyin, the Chinese version of TikTok, in New York or Hong Kong, two people familiar with the matter said.
India blocks bank accounts of China's ByteDance, company mounts challenge
Indian authorities have blocked at least two of ByteDance's bank accounts for alleged tax evasion, prompting it to ask a court to quash the directive that it fears will hit its operations, two sources with direct knowledge told Reuters.
TikTok Owner ByteDance Hires Away Executive From Xiaomi to Be CFO
Shou Zi Chew, who ran Xiaomi’s finances until 2020, will join ByteDance in Singapore.
TikTok owner ByteDance takes on Tencent after acquiring major mobile gaming studio
ByteDance has acquired a major gaming studio called Moonton highlighting its ambitions in the video game industry and pitting it against Chinese giant Tencent.
As Biden and Xi Begin a Careful Dance, a New American Policy Takes Shape
Top administration officials will meet with their Chinese counterparts for the first time on Thursday as the United States shifts to a more competitive posture with Beijing.
Xiaomi Wins Court Ruling Blocking U.S. Restrictions on It
A federal judge in Washington blocked the Defense Department from restricting U.S. investment in the Chinese smartphone manufacturer Xiaomi Corp.
Tiktok Owner ByteDance to Invest in China's QCraft Self-Driving Startup
Chinese social media titan ByteDance Ltd. is investing in local autonomous driving startup QCraft Inc., according to people familiar with the matter, another sign of the blurring of boundaries between car companies and Big Tech.
ByteDance developing Clubhouse-like app for China amid copycat rush: sources
TikTok owner ByteDance is working on a Clubhouse-like app for China, sources familiar with the matter said, as the global success of the U.S.-based audio chat service inspires a rush of copycats in the country.
ByteDance agrees to US$92 million privacy settlement with US TikTok users
The lawsuits claimed the software ‘infiltrates devices’ and extracts private data, including biometric data, which is used to track and profile the owners.
ByteDance names head of China news unit as global TikTok R&D chief: sources
Beijing-based ByteDance plans to move the chief of its Chinese news aggregator Jinri Toutiao, Zhu Wenjia, to Singapore to head global research and development for its hit short video app TikTok, two people familiar with the matter said. The role is newly created and would...
I helped build ByteDance's censorship machine
I wasn't proud of it, and neither were my coworkers. But that's life in today's China.
ByteDance not in preliminary talks to list TikTok on NYSE: source
ByteDance is not in preliminary discussions about listing video app TikTok on the New York Stock Exchange (NYSE), a person familiar with the matter said, following a Chinese media report that talks were underway.
ByteDance in early talks to list Douyin in New York, source says
Douyin would be the first initial public offering by a Chinese social-media network in the US, giving American investors a piece of one of the most successful apps in the world’s largest internet market.
WSJ News Exclusive | TikTok Sale to Oracle, Walmart Is Shelved as Biden Reviews Security
The U.S. plan to force the sale has been shelved indefinitely, people familiar with the situation said, as President Biden undertakes a broad review of his predecessor’s efforts to address potential security risks from Chinese tech companies.
China court accepts ByteDance case filing against Tencent over alleged monopoly
ByteDance is bringing its battle with archrival Tencent to the court at a time when the Chinese government moves to curve the power of the country’s internet behemoths. The Beijing Intellectual Property Court has permitted a ByteDance lawsuit brought against Tencent to proceed, a ByteDance spokesperson confirmed with TechCrunch. Upstart new media company ByteDance alleged […]
ByteDance Sues Arch-Rival Tencent Over Alleged Monopolies
ByteDance Ltd. sued Tencent Holdings Ltd. over alleged monopolies in its WeChat and QQ platforms, escalating a feud between the leading Chinese social media giants.
ByteDance's Douyin sues Tencent for monopolistic behaviour
ByteDance's Chinese short video app Douyin has filed a complaint with a court in Beijing to sue Tencent Holdings for monopolistic behaviour and asked for 90 million yuan ($13.94 million) in compensation, ByteDance said on Tuesday.
TikTok owner ByteDance launches Douyin Pay, mobile payment service for China
Beijing-based ByteDance recently launched its own third-party payment service for Douyin, the Chinese version of its hit short video app TikTok, as it presses to expand into the e-commerce business in China.
TikTok Download Ban Is Blocked by Second Judge
The preliminary injunction stops the Commerce Department from implementing restrictions that would have essentially banned the app in the U.S.
TikTok Tries To Run Out Clock Of Trump Presidency
Hi folks, it's Shelly. TikTok skated past another U.S. ban last week as its strategy for the rest of President Donald Trump's term becomes increasingly clear: Wait it out.