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Jun 20, 2020 · 36kr
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Jun 19, 2020 · Choice
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Jun 19, 2020 · Choice

Wangfujing is Cooperating with ByteDance

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Jun 17, 2020
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Jun 17, 2020

ByteDance's First Quarter Revenue Surges to USD 5.6 Billion

Beijing-based Internet firm ByteDance, the originator and owner of the popular app TikTok, booked around USD 5.6 billion in revenue for the first quarter of 2020, said two people with knowledge of the matter. The number shows a 130% year-on-year growth, confirmed one of the pair, who declined to be identified as the matter remains private. This new Internet giant has set a revenue goal of CNY 200 billion (USD 28.2 billion), according to another person. The first person said that ByteDance aims to reach revenue half the amount of strong competitor Tencent (OTCMKTS: TCTZF). Tencent’s reported revenue of nearly CNY 377 billion (USD 53.2 billion) in 2019. For the first quarter revenue data, ByteDance officially declined to comment. The high growth rate of 130% indicates that this 8-year-old byte beating company is capturing a larger share of the Chinese Internet advertising market. According to people familiar with the matter, the company's revenue mainly comes from its advertising on China's App, which includes news aggregator Jinri Toutiao and short video app Douyin. Although TikTok is spreading internationally, it hasn’t become its main revenue source. While the epidemic is a nightmare for parts of some businesses, ByteDance has benefited a lot from it. People stayed at home, and the mobile Apps were further welcomed during the warm season. Douyin’s livestreaming became the first choice for online sales. For the short video industry, the industry's duration of use per day increased (in Chinese) from 11.5% in the Spring Festival of 2019 to 17.3% in 2020, according to QuestMobile. ByteDance has recently been valued at USD 95 to 140 billion in the market for private secondary trading, sources told Reuters. Last month, ByteDance appointed Kevin Mayer, former head of Disney’s online video business, as CEO of TikTok.

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Jun 17, 2020 · Huxiu
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Jun 17, 2020 · PhoenixNet
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Jun 15, 2020 · Global Network
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Jun 15, 2020 · Wangyi
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Jun 15, 2020 · ZOL
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Jun 14, 2020 · 36kr
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Jun 12, 2020 · Wangyi
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Jun 12, 2020 · Sina News
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Jun 12, 2020 · Sina News

ByteDance is Expanding its Office Spaces

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Jun 9, 2020 · PhoenixNet
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Jun 9, 2020 · PhoenixNet

ByteDance Enters into the Education Industry

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Jun 8, 2020 · ThePaper.cn
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Jun 8, 2020 · ThePaper.cn

ByteDance Launches Audio Book

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Jun 7, 2020 · TMTPOST
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Jun 7, 2020 · PEdaily.cn
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Jun 7, 2020 · PEdaily.cn

Bytedance is Expanding Overseas

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Jun 5, 2020 · 36kr
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Jun 3, 2020 · Quanjing
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Jun 3, 2020 · Quanjing

Bytedance to Set Up a New Firm in India

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May 21, 2020
report
News EO
May 21, 2020

Kevin Mayer of Disney Joins ByteDance

► Affected by the epidemic, Disneyland theme parks are temporarily closed. ► In the first quarter of this year, TikTok had 307 million downloads, higher than any other app in the world. On May 19, ByteDance and Disney released an announcement that Kevin Mayer, head of Disney’s streaming business, would join ByteDance. From June 1, Mayer will serve as the CEO of TikTok and as the COO of ByteDance, reporting directly to the company CEO Zhang Yiming. Mayer had previously been regarded as one of the potential successors to former Disney CEO Bob Iger. In February of this year, Bob Chapek, the head of Disney’s theme park experience and product department, was appointed as the next CEO. Mayer regretted losing the election – yet he said that the decision to join ByteDance had nothing to do with missing out on the role of Disney CEO, but because TikTok, a rapidly growing community, made him very excited. From 2005 to 2017, Mayer served as Disney’s senior executive vice president and chief strategy officer, responsible for corporate strategy, business development, and other departments, promoting Disney’s acquisition of Pixar Animation, Marvel, Lucasfilm and 21st Century Fox. “It was him who turned Princess Leia into a Disney princess, laying the foundation for the expansion of the Marvel movie universe,” Technology Media site Android Central commented. Mayer was also responsible for Disney’s Hulu, ESPN +, and Hotstar streaming services, as well as international operations and global content and advertising sales. Besides, he also contributed to Disney’s acquisition of a portion of the equity of sports digital streaming property BAMTech. BAMTech provides technical power for ESPN + and Disney + to accelerate the digitization and streaming of Disney’s media business. Application data company Sensor Tower showed that affected by the epidemic, people downloaded TikTok 11 million times in March, almost double the number in December last year. In the first quarter of this year, TikTok had 307 million downloads, higher than any other app in the world. But TikTok still has troubles. According to a report by The Wall Street Journal last year, in 2018, Douyin and TikTok generated more than USD 1 billion in revenue for ByteDance worldwide. But according to people familiar with the matter, this kind of profit did not last. Therefore, ByteDance poached Mayer from Disney, hoping that they could get more income from his track record of attracting millions of users, many of whom are teenagers with limited spending power. CEO Zhang Yiming also said that “Mayer is very capable of pushing the company’s product portfolio to new heights.” TechCrunch believes that Mayer was selected as a senior executive by ByteDance, not only because he was very successful in the streaming media field, but also because hiring a high-profile US executive might partially resolve the security concerns of US politicians about TikTok. Faced with the controversy, TikTok responded: “The data of American users is stored in the United States, and China has no jurisdiction over data stored outside of China.”

News EO
Apr 26, 2020
report
News EO
Apr 26, 2020

Douyin, the Chinese TikTok, Launches Video Call Function to Rival Wechat

According to Tech Planet’s official WeChat account, TikTok's Chinese version Douyin has secretly launched a video call function. Unlike the previous ‘connect’ function, which only supported random matching video chat, the new video call function allows Douyin friends who follow each other to initiate a video call, which has a stronger potential for unleashing social changes among its community of users. After experiencing the new video calling function we note that it is inclined more towards beauty and entertainment, an orientation that meets the tastes of young people and will drive them to engage with the chat function. It is not difficult to see that Douyin wants to become a popular instant messaging product for young people. By adding such a function, ByteDance is trying to diversify the app’s core appeal; it is stepping into the messaging/video call area gradually, likely with the aim of positively influencing the retention time of users and maximizing the value of traffic.  According to QuestMobile’s '2020 China Mobile Internet Spring Report,' the total monthly usage time of Tencent products has decreased by 2.4%, while ByteDance's has increased by 1.2%. However, Tencent's Wechat is not a weak rival. Wechat has dominated the area for the longest time and it will not be easy for the world’s highest-valued startup to enter its territory. ByteDance actually has some experience in the social communication segment. On January 15, 2019, the earliest social product launched by the company was ‘Duoshan’ (多闪), followed by ‘Feiliao’ (飞聊) in May. Unfortunately, both products were unsuccessful and failed to meet internal and external expectations.  After the failure of the two Apps, Douyin stepped up by adding two communication functions ‘Yuyinzhibo’ (语音直播) and ‘Lianxian’ (连线). Douyin wants to be an everyday communication tool using its core advantages of top traffic among domestic apps.  Other than entering the social area, ByteDance has made quite a few aggressive moves into the territory of other Chinese tech giants.  In March 2019, ByteDance acquired a game company, the Shanghai Mokun Digital Technology Company, to encroach on Tencent’s gaming. A year later, it entered the search engine business to rival Baidu by officially releasing a standalone search App. The firm also announced the testing of an AI teacher project to strengthen its position in the education industry in October 2019.  It’s worth mentioning that, although ByteDance was quick to deny the rumor that it acquired on April 22 a game development company called Guangzhou Di Shitian Software Co., Ltd. at a price of more than CNY 1 billion, we believe that there might be some truth to the rumor, judging from the history of ByteDance’s investment in the gaming industry. For ByteDance, the most critical thing is the lack of time spent by users on its social products. By adding this new feature, ByteDance is trying to tackle the problem.

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