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Chinese tech giant ByteDance's short video platform TikTok is now currently facing investigation by U.S. government agencies over its handling of child sexual abuse material.
On January 23, Bloomberg reported that ByteDance was looking for a new CEO for its TikTok business. As of time of reporting, a spokesperson from TikTok refused to comment.
ByteDance is currently testing an independent export e-commerce platform and plans to release the app in October this year. A source close to the firm said that this independent app is similar to Alibaba's AliExpress.
A new subsidiary of Chinese tech giant and TikTok owner ByteDance was established on Monday, named "Beijing Toutiao Information Technology Co., Ltd.," with legal representative Luo Lixin.
Oriental Selection is exploring overseas markets with TikTok, improving the efficiency of product procurement processes by integrating high-quality supply chain resources.
ByteDace saw a personnel reshuffle with Zhang Nan taking charge of Douyin, and Alex Zhu taking over the app’s international version TikTok, while reporting directly to the CEO of ByteDance, Zhang Yiming.
TikTok parent Bytedance has launched the overseas version of Jianying, a video editing app catered to TikTok under the name Viamaker.
Indonesian tech giant GoTo announced today that TikTok has officially completed the transaction announced in December last year, spending $840 million to acquire 75.01% of the shares in GoTo's e-commerce subsidiary, Tokopedia.
TikTok Shop, an e-commerce marketplace integrated into ByteDance’s TikTok, is launching its cross-border e-commerce business in more Southeast Asian countries including Thailand, Vietnam, Malaysia and the Philippines.
ByteDance's short-video platform TikTok saw a compound annual growth rate of 300 percent in advertising revenue. In addition, ByteDance's advertising revenue in China moderated.
India has become the world’s fastest-growing mobile application market over the past few years. With more than 1.3 billion potential consumers, the Indian app market is attracting lots of attention as a huge opportunity for app growth. Thus, Chinese apps such as TikTok, Helo, LIVE, UC Browser, backed by China’s tech giants, have managed to gain popularity in India.
Microsoft is ready to press ahead with discussions to explore a possible acquisition of TikTok in the United States.