Zhang Yiming stepped down as the CEO of his company’s flagship platform Jinri Toutiao, a news aggregator, but kept his title as CEO of the parent company ByteDance.
In Ep. 28 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma talk about the Chinese AI company that recently toppled Uber to become the highest-valued startup in the world: Bytedance.
Beijing Bytedance Technology Co., the parent company of China’s news platform Toutiao and short video app TikTok, has closed its pre-IPO raising with about $4 billion, according to 36Kr. With an estimated valuation of $75 billion, it has become the rage in the market.
Please check out the hot new trending topics in China last week:
Heads of two giant tech companies met in Beijing.
U.S. chipmaker Intel and Chinese Internet group Bytedance launched their joint AI lab on August 22 in Beijing, aiming to leverage both strengths to promote AI innovation.
China’s Beijing Bytedance Technology Co. announced on August 1 that it is shutting down the popular musical.ly video app and merge this short video platform into its other platform, TikTok. The two will merge as one upgraded app under the name of TikTok.
Earlier this month, Tencent sued Bytedance, better known as Toutiao, for 1 RMB and Toutiao fought back by suing Tencent for 90 million RMB. What sparked the feud between the David and Goliath of the Chinese tech world? Listen to this week’s episode of TechBuzz China by Pandaily to find out!
Douyin, the most popular short-video platform, announced on June 12 that its number of domestic daily active users (DAU) has exceeded 150 million.
Tencent filed lawsuits in Beijing on Friday against Beijing Bytedance Technology Co Ltd, the owner of Jinri Toutiao and weiboshijie Ltd, parent company of Douyin, claiming 1 yuan for compensation and demanding public apologies from the two companies to publish on these two new media platforms.
On December 1, at the A.IDEAS Forum, Toutiao announced the establishment of the Bytedance Strategic Technology Committee. Its first members included professor John E. Hopcroft, a Turing Award winner, Gao Wen, a professor at the Chinese Academy of Engineering, as well as Zhang Ba, a professor at the Chinese Academy of Sciences.