The United States Congress recently held a hearing on TikTok after a three-year hiatus, revisiting concerns over the app's ownership by ByteDance and the possibility of separating it from the Chinese parent company or outright banning it in the US.
CapCut, a video editor owned by Chinese tech giant ByteDance and lesser known compared to TikTok, has obtained 200 million monthly active users (MAUs). It is now exploring commercialization.
On the morning of February 17, Liang Rubo, CEO of Beijing-based internet technology company ByteDance, sent an internal letter to all employees, saying that he would adjust the cycle of setting and reviewing of performance targets from bimonthly to quarterly.
Zhi Ying, vice president and head of content products of Douyin and Xigua Video, has been transferred to TikTok, Douyin's sister app. She will be responsible for TikTok's products, content ecology and other businesses.
ByteDance's Douyin, a short video app that is the counterpart of TikTok for mainland China, recently launched desktop software on its official website called "Douyin Chat," providing service for Windows and Mac clients.
Chinese tech giant ByteDance has launched a round of layoffs covering about one-tenth of its employees, mainly affecting staff members focused on R&D, products and operations.
The e-commerce arm of ByteDance-owned TikTok will see Kevin Chen, the current the head of news aggregator Toutiao, lead its product and data science division.
Liang Rubo, CEO of Chinese internet technology company ByteDance, said at the All-Hands employee meeting held on December 14 that the company would continue to make structural and personnel adjustments, which will be mild.
On November 10, news that TikTok Shop will be launched in US was finally confirmed. In order to register for TikTok Shop in the US, merchants will need to use a domestic mobile phone number and email address, or an existing TikTok account. An invitation code is also required.
Meta announced 11,000 job cuts on November 9. Many affected individuals have since taken to TikTok to share their experiences and feelings of being laid off, and the ByteDance-owned short video platform has even begun to recruit a large number of them.
SHEIN, a cross-border fast fashion platform based in China, is piloting a model similar to Taobao in Brazil, whereby merchants set up stores directly on the site and are responsible for their own operations and logistics.
Following prior moves in the UK and Indonesia, ByteDance's TikTok is preparing to explore the Spanish e-commerce market, while several US merchants have participated in small-scale tests of TikTok's domestic online shopping platform.
It was reported that at about 17:31 on October 18, the global daily active users (DAU) of TikTok, a world-famous short video sharing app under ByteDance, exceeded 1 billion. Company insiders later responded that the news was untrue.
ByteDance's TikTok has set a goal to reach 1.05 billion daily active users (DAUs) globally by the end of 2022. The popular short video platform currently has more than 800 million DAUs.
ByteDance subsidiary Douyin Group launched a new logo on October 12, and its account avatars on Douyin, TikTok's sister app for mainland China, and on its official WeChat account have been replaced with new ones.
TikTok parent company ByteDance reportedly achieved revenue of $61.7 billion in 2021, an increase of 80% year-on-year. Meanwhile, net losses reached an astonishing $84.9 billion.
ByteDance, the Beijing-based parent company of TikTok, has recently launched a new fast-fashion retail platform named "If Yooou." It currently covers European countries such as the UK, France, Germany, Italy and Spain.
The 2022 social media landscape in a nutshell: Facebook trying hard to be Instagram, Instagram trying hard to be TikTok, and TikTok trying hard to be BeReal.
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.
