ByteDance

ByteDance is a technology company that owns and operates machine learning content platforms that allow users to connect in communities, create and share contents. The mission of the company is "Inspire Creativity, Enrich life".

Zhang Yiming founded ByteDance on March 9, 2012 in Beijing, China. Its flagship product is Toutiao, an artificial intelligence powered platform delivering personalized content recommendations for its users. It also operates a series of products for mobile users including Topbuzz, Flipagram and other user-generated content short-form video applications.

ByteDance acquired musical.ly, a global video community that celebrates creativity through the combination of short videos and music. In August 2018, ByteDance merged musical.ly into their product, TikTok, which initially launched in May 2017, to provide a unified user experience between both platforms. Other social media applications they operate include Helo, Douyin, BaBe, Huoshan Video and Lark.

Timeline

April 14, 2021

ByteDance gaming unit Nuverse acquires C4games, as it seeks to further expand into the video games business.

August 2020

ByteDance launches Toutiao Search for the Chinese market to take on Baidu.

January 3, 2020

ByteDance and TikTok have built a deepfakes maker.

July 29, 2019

ByteDance announces it will begin making smartphones

2019

ByteDance sets up Nuverse.

November 1, 2017

ByteDance raises a $257,000,000 series D round from QiMing Venture Partners.

Funding rounds

Products

Acquisitions

People

Name

Role

Arthur Dantchik

Director of the Board

Neil Shen

Director of the Board

Philippe Laffont

Director of the Board

William Ford

Director of the Board

Zhang Yiming

Founder, CEO and Chairman of the Board

Documentaries, videos and podcasts

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ByteDance reportedly will roll out domestic music streaming app in 2021 · TechNode %

Zhanhang Ye

September 17, 2021

TechNode

Chinese tech giant ByteDance reportedly is developing a music streaming app to launch in China in 2021.

TikTok's take-off fuels hyperscale datacentre spend by parent company ByteDance

Caroline Donnelly

September 14, 2021

ComputerWeekly.com

Following its meteoric rise to social media prominence, TikTok's parent company is confirmed as being the world's seventh-biggest datacentre spender after just three years of expansion

TikTok owner ByteDance to sell Dolphin, Squirrel Securities · TechNode

Zhanhang Ye

September 2, 2021

TechNode

A ByteDance spokesperson confirmed the plan with TechNode and said it is cutting back on financial services.

TikTok owner ByteDance buys a top virtual reality hardware startup

Lucas Matney

August 30, 2021

TechCrunch

TikTok parent company ByteDance seem to be looking to one-up Facebook anywhere it can. After taking over the mantle of most-downloaded social media app in the world with TikTok, ByteDance is coming for Facebook's moonshot, buying up its own virtual reality headset maker called Pico. The deal first reported on by Bloomberg last week was [...]

China roundup: Beijing takes stake in ByteDance, Amazon continues China crackdown

Rita Liao

August 21, 2021

TechCrunch

Hello and welcome back to TechCrunch's China roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world.

Daily Crunch: Under pressure from 'banking partners and payout providers,' OnlyFans bans explicit content

Richard Dal Porto

August 19, 2021

TechCrunch

Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Business Highlights: The Fed's bond buys, T-Mobile breach

By The Associated Press

August 18, 2021

AP NEWS

___Fed discussed pulling back on bond purchases later this yearWASHINGTON (AP) -- Federal Reserve officials last month discussed the timing for beginning to dial back their extraordinary support for the U.S.

Beijing took stake and board seat in key ByteDance domestic entity in 2021

Reuters

August 17, 2021

@bsindia

The central Chinese government similarly holds a 1% stake in a key unit of Twitter-like Weibo called Beijing Weimeng Technology

Beijing takes stake, board seat in ByteDance's key China entity

Reuters

August 17, 2021

The Hindu

The deal does not give the Chinese government any stake in the firm's hit short video app TikTok because of ByteDance's complex corporate structure.

Beijing owns stakes in ByteDance, Weibo domestic entities, records show

August 17, 2021

The Economic Times

Weibo did not immediately respond to a request for comment. In the SEC filing, it said its unit received the investment from WangTouTongDa in April 2020 and that WangTouTongDa (Beijing) Technology had the right to appoint a director to Weiming's three-member board.

No ByteDance job for Alibaba #MeToo manager · TechNode

Emma Lee

August 10, 2021

TechNode

A former Alibaba manager at the center of China's latest #metoo case was in the process of applying for a job at ByteDance.

TikTok owner ByteDance aims for Hong Kong IPO by early 2022 - FT

Reuters

August 9, 2021

The Hindu

ByteDance is planning to list in either the fourth quarter of this year or in early 2022, the FT reported, citing sources familiar with the matter.

ByteDance furloughs hundreds after China's tutoring crackdown

Zheping Huang | Bloomberg

August 5, 2021

@bsindia

Its unclear if ByteDance will lay off more employees. Local media had earlier reported the shutting of the services

ByteDance cuts edtech headcount amid private tutoring crackdown: report · TechNode

Zhanhang Ye and Emma Lee

August 5, 2021

TechNode

ByteDance is grappling with the fallout from regulations that limit edtech companies' business operations and financial activities.

ByteDance to lay off staff, close businesses over China tutoring clampdown

Reuters

August 5, 2021

The Hindu

The move comes after China imposed sweeping regulations on the private-tutoring sector.

ByteDance rival Kuaishou is shutting down controversial app Zynn

Manish Singh

August 4, 2021

TechCrunch

Kuaishou Technology, a Chinese firm perceived as a ByteDance rival by many, said on Wednesday it will shut down its controversial short video app Zynn later this month. The app was only available in the U.S. The firm, which last month said it had amassed 1 billion monthly active users, didn't offer an explanation for [...]

ByteDance shelves IPO after regulators warn about data security: Report

Agencies

July 12, 2021

@bsindia

The Chinese tech giant, whose apps also include TikToks Chinese twin Douyin and the news aggregator Toutiao, had kicked off initial preparations for an IPO of its domestic assets

ByteDance to end weekend work in blow to 996 culture · TechNode

David Cohen

July 9, 2021

TechNode

ByteDance announced Friday that it will cancel weekend work days amid a national backlash against extreme working schedules like 996.

ByteDance revenues more than double on back of TikTok boom

Mark Sweney

June 18, 2021

the Guardian

Owner of video-sharing app also reports a 93% increase in gross profit to $19bn in 2020

TikTok owner ByteDance sees its earnings double in 2020

BBC News