Chinese short video app Kuaishou's overseas business structure has been adjusted. A separate international commercialization department was set up within the division to boost revenue.
On August 19, Ele.me, a food delivery platform, and ByteDance's Douyin, jointly announced a cooperation deal. The two sides will work together to explore offerings of local life services while helping to connect merchants and consumers.
Kuaishou, the leading rival of TikTok's Chinese mainland version, Douyin, announced an organizational restructuring involving multiple departments, and has set up a new management committee.
Peng Jiatong, the business assistant of former Kuaishou CEO Su Hua, has left the job. At the same time, Li Yongbao, the firm's head of business algorithm strategy, has resigned for unknown reasons.
Wang Jianwei, Senior Vice President of Kuaishou, revealed at the company's 2022 Photosynthetic Creators Conference on July 29 that the firm will be conducting alpha tests of a creator version of its short video app this year.
ByteDance's short video sharing platform Douyin announced on July 18 that due to changing business developments, "Circle," a same-city social networking function, will be closed on July 29.
TikTok announced on June 9 that throughout coming weeks, it will introduce a tool to help users control how much time they spend on the short video app in a single sitting by enabling regular screen time breaks.
Douyin has reached a cooperation agreement with the Chinese Super League (CSL), becoming the football organization's official short video cooperation platform for the new season.
On Monday, ByteDance's short video app Douyin released a data report on the company's measures to protect minors. The report updates the company's progress in the promotion of a youth mode, content construction, platform governance and more.
ByteDance has raised the annual target of its local life services business to 50 billion yuan ($7.4 billion), which is higher than the target set at the end of last year.
Kuaishou Technology, China's leading content community and social platform, released its financial report for the first quarter of this year.
In response to a report on Monday that Su Hua, chairman of Chinese short video platform Kuaishou, was taken away by Chinese authorities for investigation at the end of April, Kuaishou issued a statement on Monday denying the rumor.
Sensor Tower released a report on Tuesday morning claiming that in April 2022, Douyin and its non-Chinese version TikTok earned more than $296 million from the App Store and Google Play.
TikTok, a short video app owned by ByteDance, released a new contextual advertising solution called "TikTok Pulse" on Wednesday, which allows marketers to place their brands next to the platform's most engaging content.
ByteDance's short video sharing platform Douyin has entered the digital fashion industry and plans to launch a business called "Pheagee."