ByteDance Acquires Mubu App to Enter Office Service Industry
ByteDance has acquired the Mubu App (幕布), which is an efficiency-promoting tool and the transaction size is million of CNY
According to the 36Kr, ByteDance has acquired the Mubu App (幕布), which is an efficiency-promoting tool and the transaction size is million of CNY. The operation main body of Mubu is Beijing Kundou Technology company, and it is indirectly controlled by ByteDance. WANG Xu (王旭), the founder of Mubu, confirmed that information and announced that he is working as CEO of Mubu currently. However, the technology director of ByteDance, LIANG Rubo (梁汝波), became the legal representative of Mubu.
Mubu was published in March 2015 and is mainly for the business side customers to improve the employee’s working efficiency. It combines the syllabus writing and mind-map making and has both the PC version and mobile version. As the first production of Kundou Technology, Mubu aims to help the employees to refine and organize notes and help them to manage their tasks. Prior to this, ByteDance acquired Zhaoxi Calendar, which is a time management App.
Many magnates make an effort to gain the market share of business side App. Alibaba acquired Teambition and published Ding Talk afterward. On the other hand, Tencent is trying to connect the Wechat with the enterprises and developed Wechat enterprise version. The style of Mubu is kind of like the Shimo Document, which is an online note App and invested by ByteDance. In 2018, Tencent published Tencent Note and Ding Talk, cooperated with WPS, published Dingding Note as well. The business side market is facing increasingly violent competition.
According to the “report of China smart office industry in 2018” by Zhiyan consulting, by 2020, the market size of smart office is expected to be CNY 50 billion. Although the DAU of Tik Tok is 250 million while the DAU of Toutiao is 150 million, it is hard to change the traffic from the consumer-side into money, and BAT also occupied a lot of market share in the consumer side market. Currently, ByteDance has tried many methods to transfer its data traffic into money, including advertisement, game, E-commerce, and broadcast. However, in order to achieve the revenue target which is more than CNY 100 billion, ByteDance requires the customers from business-side which have a stronger payment ability.
ZHANG Yiming (张一鸣), the CEO and founder of ByteDance, used to show his expectation for the business side market when he was talking with QIAN Yingyi (钱颖一), the dean of the School of Economics and Management, Tsinghua University. According to ZHANG, the development of the business for B-side is a great promotion for Chinese technology companies, and excellent opportunities to build unicorn companies. So does WU Jie (吴洁), the founder of Shimo, who said that now is good timing to do enterprise serving business, because Chinese companies are being richer than before, and paying more attention to the efficiency. In the next 3-5 years, the online office industry which serves for companies may have 2-3 unicorn companies.
With the acquisition of Mubu, ByteDance hinted that it would do more for business side customers, and in the future, it is foreseeable that in the online office industry, another magnate would competing with Ding Talk and Wechat enterprise version.