ByteDance acquires VR maker Pico

ByteDance, the parent company of TikTok, has acquired Chinese VR headset maker Pico.  The deal was confirmed to CNBC by ByteDance, and sees the company make its first foray into virtual reality.  In a statement, ByteDance said: “[Pico’s] comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the […]

TikTok parent company shelves IPO plan

ByteDance, the parent company of short-form video app TikTok, has shelved its planned initial public offering. The company was recently valued at US$180 billion and had been considering an IPO in the US or Hong Kong. However, according to the Wall Street Journal, the company has indefinitely paused these plans.  While the company had previously […]

TikTok’s algorithm available to third-parties via new BytePlus division

TikTok’s parent company ByteDance has started selling its industry-leading AI to other companies. According to a report from the Financial Times, the company has opened up a new division dubbed BytePlus to manage sales and integration with brands. Clients currently include fashion app Goat, travel site WeGo and gaming platform GamesApp. The move is especially […]

ByteDance CEO and co-founder to step down 

Zhang Yiming, the founder and CEO of TikTok-owner ByteDance, is to step down from his position. Zhang co-founded the Chinese company in 2012, and will move to another position at the company. He will be succeeded by fellow co-founder Liang Rubo, who currently runs ByteDance’s HR division. In an internal letter later made public, the […]

Chinese media companies demand short video platforms take action against content piracy

A group of more than 70 Chinese film and TV makers have called on short video platforms to remove content being used without authorisation. The group includes Chinese giants such as streamers iQIYI, Tencent Video and Alibaba’s Youku. According to a report from China’s national broadcaster CCTV, ‘hundreds of millions’ of Chinese internet users are […]

Alibaba and Tencent interested in buying iQIYI but wary of costs and regulations

Alibaba and Tencent have both held separate talks with Baidu over buying a controlling stake in VOD platform iQIYI, claims a new report. According to sources cited by Reuters, both giants are interested in increasing their empires by adding the Chinese Netflix equivalent, but have reached an impasse over pricing and regulatory scrutiny. TikTok owner […]

ByteDance considers listing ‘Chinese TikTok’ Douyin in Hong Kong

ByteDance, the owner of social media app TikTok, is reportedly in internal and external talks with investment banks to launch Douyin in Hong Kong. Douyin, officially known as Dǒuyīn duǎn shìpín, is a separate app from TikTok, but serves a similar purpose of allowing users to create and consume short-form video content. The main difference […]

US TikTok ban temporarily halted

A US federal judge has temporarily halted the Trump administration’s ban on short-form video app TikTok. The app, owned and operated by Chinese firm ByteDance, had been ordered to divest its operations by Trump, amid fears over where the data was housed and influence of the Chinese government in the service’s operation. Microsoft was initially […]

Former Disney D2C boss Mayer resigns as TikTok CEO

Kevin Mayer, Disney’s former head of direct-to-consumer and international, has left his new role as CEO at TikTok just three months into the job. Mayer joined the video app firm in May, becoming COO of Chinese parent ByteDance at the same time. However, the Mouse House veteran said he would be stepping down following President […]