Pandaily's Digest #20220902
On Aug. 31, Beijing-based tech company ByteDance held an All Hands staffmeeting.During the more than one-hour event, management responded to many problems and challenges facing ByteDance at present.
TikTok Parent ByteDance Says No Plans to Go Public
On August 31, Beijing-based tech company ByteDance held an All Hands staffmeeting.During the more than one-hour event, management responded to many problems and challenges facing ByteDance at present.
April 2022, Julie Gao, a senior partner of international law firm Skadden, joined ByteDance as its new chief financial officer (CFO). Her arrival was regarded by the wider market at that time as a signal that ByteDance was preparing to go public. At the All-Hands meeting, Gao responded to this market rumor, saying, “The company has no specific listing plan or no timetable at present.”
Pinduoduo Launches Cross-Border E-Commerce Platform Temu
On September 1, Temu shopping website, a cross-border e-commerce platform owned by Pinduoduo, was launched overseas. At present, both the PC and APP versions have been launched. According to the registration information, the address of Temu registrant is No.533 Loushanguan Road, Changning District, Shanghai, which is the headquarters of Pinduoduo.
U17 Comics to Merge with Bilibili Comics
On September 1, China’s largest original comic website U17 Comics announced that its website will be officially shut down on December 31 but will continue to provide services through Bilibili Comics in the future. At the same time, U17 Comics officially reminded users to pay attention to the follow-up time nodes of its products and complete any necessary asset migrations as soon as possible.
A16z Crypto Launches Free NFT Licensing Framework
As copyright vulnerabilities have led to significant confusion around NFT licenses and various other legal problems, the crypto arm of venture capital firm Andreessen Horowitz (known as a16z) now thinks it’s time for a new set of licenses, designed specifically for NFTs.
Xiaomi Likely to Build Own Automotive Factory
Bloomberg previously reported that Xiaomi is negotiating with BAIC Group to produce electric vehicles on its behalf, due to a delay in obtaining the license for independent manufacturing. However, according to a report by Sina Tech on September 1, two sources have revealed that Xiaomi Auto will very likely not buy BAIC’s factory and has no intention of adopting an OEM production mode, but will instead build its own factory.
Tencent Music Entertainment and Billboard to Promote Global Development of High-Quality Chinese Music
Tencent Music Entertainment Group (TME), the leading online music and audio entertainment platform in China, announced on August 31 a new partnership with global music media brand Billboard. This partnership leverages TME’s technological prowess and local music industry insights with Billboard’s global brand authority to promote the impact of Chinese music around the world.
Social Metaverse Platform Soul Showcases Ling OS and NAWA Engine
As an advocate for social metaverse development in China, Tencent-backed platform Soul presented its two latest intelligent technology achievements – Ling OS and NAWA Engine – at the World Artificial Intelligence Conference (WAIC) on September 1 in Shanghai.
Tencent Responds to Reports of $14.5B Stock Divestment Plan
After Tencent clarified rumors that it will sell all or most of its shares in Meituan, there are now market reports that the Shenzhen-based tech giant plans to reduce its stock investments in listed companies by 100 billion yuan ($14.49 billion) this year.
Universal Name Service Protocol SPACE ID Closes Seed Round Led by Binance Labs
Decentralized identity protocol SPACE ID has closed seed-round funding led by Binance Labs, the venture capital arm and accelerator of Binance, according to an announcement on September 2. This newly acquired capital will be dedicated to integrating the .bnb domain name service into the BNB Chain ecosystem, and to its universal multi-chain domain development.
Xiaomi’s First Car Will Use Hesai’s Lidar
Xiaomi has identified Hesai Technology as the lidar supplier for its first car, which will come at a price exceeding 300,000 yuan ($43,460), Chinese media outlet LatePost reported on September 2. The lidar firm for autonomous driving and ADAS has previously received investment from Xiaomi.
