What does ByteDance mean?
ByteDance Ltd. ( Chinese: 字节跳动; pinyin: Zìjié Tiàodòng) is a Chinese multinational internet technology company headquartered in Beijing and legally domiciled in the Cayman Islands. It was founded by Zhang Yiming in 2012.
Who is the founder of ByteDance?
It was founded by Zhang Yiming in 2012. ByteDance is the developer of the video-sharing social networking services and apps TikTok and Douyin, the Chinese-specific counterpart to TikTok. On November 9, 2017, ByteDance acquired Shanghai -based social media start-up Musical.ly for up to US$ 1 billion.
Is ByteDance worth $78 billion?
ByteDance, according to Reuters, has a valuation of $78 billion and generated more than $7 billion in revenue for the first half of this year. Baidu has a current market cap of $36.6 billion, while Alibaba has a market cap of $458.7 billion and Tencent has a market cap of $384.5 billion.
Is ByteDance and TikTok the same?
ByteDance Ltd. Founded by Zhang Yiming, Liang Rubo and a team of others in 2012, ByteDance developed the video-sharing social networking services and apps TikTok and Chinese-specific counterpart Douyin. The company is also the developer of the news and information platform Toutiao ("Headlines").
Who is TikTok owned?
ByteDance owns TikTok, despite there previously being talks of selling the company to an American company. This Chinese tech company has achieved its aspirations of being as big as some of its competitors, such as Alibaba, Tencent, and Baidu. ByteDance is based in Beijing, China, and has offices all over the world.
Why ByteDance is so successful?
It has allowed the company to incubate rapidly and broadly and to scale efficiently, by using centralized but flexibly deployed technical and operational stacks. This strategy has served the company well in part because of the similarity among its various algorithm-driven products.
Who owns TikTok now 2022?
ByteDanceAlmost every one said TikTok. TikTok is owned by ByteDance, a Chinese company.
Is TikTok spying on us?
TikTok knows the device you are using, your location, IP address, search history, the content of your messages, what you're viewing and for how long. It also collects device identifiers to track your interactions with advertisers.
Does TikTok send data to China?
WASHINGTON, Oct 26 (Reuters) - An executive at TikTok faced tough questions on Tuesday during the video-sharing app's first appearance at a U.S. congressional hearing, saying it does not give information to the Chinese government and has sought to safeguard U.S. data.
Why did Zhang Yiming make TikTok?
Zhang wanted to create a news platform powered by artificial intelligence, different from China's search engine Baidu. “We push information, not by queries, bu rather by news recommendations,” he said.
What did Zhang Yiming do before TikTok?
He founded ByteDance in 2012 and developed the news aggregator Toutiao and the video sharing platform TikTok (Douyin/抖音), formerly known as Musical.ly. According to Bloomberg Billionaires Index, Zhang's personal wealth in 2022 was estimated at $44.5 billion.
Is ByteDance a good company?
Based on the graphic above, ByteDance Singapore has an average rating of 4.3 stars from 1,227 ratings, which means that it is a good company to work for. Check out this review for an anonymous insider's look into ByteDance Singapore's tech team!
Did Walmart buy TikTok?
TikTok ultimately struck a partnership deal with Oracle and Walmart that would include the U.S. businesses buying a stake in the app and providing secure technology.
Is TikTok blocked in China?
Although video-sharing app TikTok was developed by Chinese company Bytedance, it is not available in China.
Does TikTok steal your information?
TikTok shares your data more than any other social media app — and it's unclear where it goes, study says. Tom Huddleston Jr. TikTok app logo on the App Store. Two of your social media apps could be collecting a lot of data on you — and you might not like what one of them is doing with it.
How many users does Byte Dance have?
It also develops the news and information platform Toutiao ("Headlines"). As of November 2018, ByteDance had over 800 million daily active users (over 1 billion accumulated users) across all of its content platforms.
Who is the CEO of Byte Dance?
Zhang Yiming was the co-founder, Chairman and CEO of ByteDance. On May 19, 2021, the company announced that Zhang Yiming would step down as CEO at the end of 2021 and his co-founder Liang Rubo would become CEO.
When did Byte Dance merge with TikTok?
They combined it and prior acquisition Flipagram into TikTok on August 2, 2018, keeping the TikTok name.
When did Byte Dance launch its first app?
In March 2012, ByteDance launched its first app, called Neihan Duanzi (内涵段子). This allowed users to circulate jokes, memes, and humorous videos. At its peak in 2017, Neihan Duanzi had over 200 million users .
Why did Byte Dance take down Feishu?
In April 2020, the Cyberspace Administration of China (CAC) ordered ByteDance to take down its office collaboration tool called Feishu because it could be used to circumvent Internet censorship. In April 2021, ByteDance was among 13 online platforms ordered by the Chinese central bank to adhere to tighter data and financial regulations. The bank stated that Bytedance must conduct comprehensive self-examination and rectification to adhere to the country's laws. In May 2021, the CAC stated that ByteDance had engaged in illegal data collection and misuse of personal information.
Who is Zhang Yiming?
Background and founding. In 2009, software engineer and entrepreneur Zhang Yiming collaborated with his friend Liang Rubo to co-found 99fang.com, a real estate search engine. In early 2012, the pair rented an apartment in Zhongguancun and, along with several other 99fang employees, began developing an app that would use big data algorithms ...
Where is Byte Dance located?
ByteDance (字节跳动) is a global technology company headquartered in Beijing, China, founded in March 2012 by Zhang Yiming. The company operates on a variety of platforms that enable people to create, discover, and connect across languages, cultures, and geographies. The majority of the company's products are social media applications.
How much is Byte Dance worth?
And its privately held parent company, ByteDance, is regarded as the world's most valuable startup. CB Insights estimates it is worth more than $75 billion, despite the fact that it was founded in a four-bedroom apartment in Beijing just over eight years ago.
Why did Tencent sue Byte Dance?
In November 2020, Bytedance accused Tencent of blocking TikTok videos on its platforms, including the dominant messaging app WeChat; Tencent responded by suing ByteDance for libel and anti-competitive practices.
What is Vimeo Create?
With this groundbreaking collaboration, SMBs can now use Vimeo Create, an advanced AI-driven video production tool, to quickly create and publish ads directly into the TikTok Ad Manager. On July 20, 2021, TikTok 's parent company, ByteDance, registered a trademark for "TickTock".
Is Byte Dance shut down?
Another early app, Neihan Dianzi, which allowed users to share jokes via videos, memes, and text, was shut down in 2018 by Chinese censors. ByteDance is also backed by some of venture capital's biggest names, including SoftBank and Sequoia Capital.
Is Byte Dance part of TikTok?
Its source code and user data are kept separate from the rest of its parent company ByteDance's operations. On July 19, 2021, Vimeo and TikTok have announced a new partnership in which Vimeo's powerful video tools will be integrated into the TikTok platform.
Does Byte Dance have user numbers?
ByteDance does not release official user numbers for its apps on a regular basis. In April 2016, Huoshan was launched by the Jinri Toutiao team and was Bytedance’s earliest experiment in short video. [9] . In September 2016, ByteDance followed up Toutiao with another hit, Douyin.
What is Byte Dance?
What ByteDance does. ByteDance was founded in March 2012 by Zhang Yiming , and it is best known for its mobile apps with entertainment value. It competes head to head with other Chinese tech giants like Alibaba, Baidu and Tencent. Its current apps include TikTok, Helo (an Indian social media app), Vigo Video (formerly Hypstar), ...
How much is Byte Dance worth?
ByteDance, according to Reuters, has a valuation of $78 billion and generated more than $7 billion in revenue for the first half of this year. Baidu has a current market cap of $36.6 billion, while Alibaba has a market cap of $458.7 billion and Tencent has a market cap of $384.5 billion.
When did Byte Dance go public?
Everything you need to know about ByteDance, the company behind TikTok. October 30, 2019 by Deanna Ting. On Monday, rumors swirled that the world’s most valuable startup, Beijing-based ByteDance, the company behind global short-form video app sensation TikTok, was set to go public, although the $78 billion company swiftly squashed the rumor.
Is Byte Dance popular in China?
Companies like ByteDance, as evidenced by the popularity of TikTok, however, are leading the way in consumer apps, particularly in China where social commerce on mobile reigns supreme, but that reach now extends beyond China and other companies are taking note.
Is Byte Dance an IPO?
Eventual IPO or not, ByteDance is focused on global growth, particularly in the U.S. where the company has been on an aggressive hiring spree, attempting to recruit from companies like Snapchat and Facebook. And, as it has before, it’s contending with censorship challenges as well.
ByteDance is restructuring its organizational structure
ByteDance is planning a major reorganization this week. The Beijing-based company has formed six business units to focus on various areas, ranging from enterprise software to gaming.
ByteDance founder steps down as chairman
Yiming has stepped down as chairman of ByteDance as the company continues to restructure its business. Rubo, who just took over as CEO, will now also serve as chairman. Representatives at ByteDance declined to comment on the matter.
Overview
ByteDance Ltd. (Chinese: 字节跳动; pinyin: Zìjié Tiàodòng) is a Chinese multinational internet technology company headquartered in Beijing and legally domiciled in the Cayman Islands.
Founded by Zhang Yiming, Liang Rubo and a team of others in 2012, ByteDance developed the video-sharing social networking services and apps TikTok and Chi…
History
In 2009, software engineer and entrepreneur Zhang Yiming collaborated with his friend Liang Rubo to co-found 99fang.com, a real estate search engine. In early 2012, the pair rented an apartment in Zhongguancun and, along with several other 99fang employees, began developing an app that would use big data algorithms to classify news according to users' preferences, which would later become Toutiao. That March, Yiming and Liang founded ByteDance.
Corporate affairs
Zhang Yiming was ByteDance's chairman and CEO from its founding in 2012 until 2021, when co-founder Liang Rubo took over as CEO.
On 19 May 2020, ByteDance and Disney released an announcement that Kevin Mayer, head of Disney's streaming business, would join ByteDance. From June 2020 to his resignation 26 August 2020, Mayer served as the CEO of TikTok and the COO of ByteDance, reporting directly to the co…
Products
Douyin (Chinese: 抖音; pinyin: Dǒuyīn), the Chinese version of TikTok, is a short-form video platform that differs from its international counterpart by having more advanced features, such as e-commerce. As of August 2020, the app had 600 million daily active users. TikTok and Douyin have almost the same user interface but no access to each other's content. Their servers are each based in the market where the respective app is available.
Regulation
In April 2018, China's state media regulator, the National Radio and Television Administration (NRTA), ordered the temporary removal of Toutiao and Neihan Duanzi from Chinese app stores. The NRTA accused Neihan Duanzi in particular of hosting "vulgar" and "improper" content and "triggering strong sentiments of resentment among internet users". The following day, Neihan Duanzi announced it was permanently shutting down. In response to the shutdown, Yiming issu…
External links
• Official website