China has penalised 10 of the country’s most popular live-streaming apps, suspending some of their operations in a renewed crackdown on fast-growing services.
Browsing: ByteDance
TikTok parent company ByteDance generated more than $17-billion in revenue and more than $3-billion in net profit last year, making it a serious rival to Facebook and Google.
ByteDance’s valuation has risen at least a third to more than $100-billion in recent private share transactions, people familiar with the matter said.
Walt Disney Co’s top streaming executive, Kevin Mayer, will leave the entertainment and theme parks giant to become the CEO of TikTok, the popular video app owned by China’s ByteDance.
The Covid-19 pandemic likely barely dented Tencent Holdings’ growth. The bigger long-term threat may be the growing posse of challengers to its Internet leadership.
ByteDance just kicked off a wave of hiring it envisions hitting 40 000 new jobs in 2020, at a time technology corporations across the globe are furloughing or reducing staff.
Tencent’s quarterly earnings missed estimates after China’s economic slowdown eroded its core gaming business and the cost of fending off ByteDance and other rivals rose.
The maker of TikTok is preparing to roll out a Google-like suite of office collaboration tools as soon as this month, according to people familiar with the plans, as it works to expand beyond short video sharing.
MTN South Africa has launched data bundles aimed specifically at users of the fast-growing social media platform TikTok, which is developed by the Chinese company ByteDance.
Naspers affiliate Tencent is planning a major update to its ubiquitous WeChat messaging app to stave off up-and-comer ByteDance and counter the start-up’s growing dominance of short-form video.