Zhang Yiming, founder of TikTok owner ByteDance, told employees he will step down as CEO and be succeeded by human resources chief Liang Rubo, the company disclosed on Thursday.
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Just last year, the world’s most valuable start-up, ByteDance, was being squeezed from all sides. For all the obstacles, the company kept growing. Now its founder, 38-year-old Zhang Yiming, is among the world’s richest people.
Shares of ByteDance, the Chinese parent of hit video app TikTok, are trading at a valuation of more than $250-billion in the secondary market, according to people familiar with the matter.
Discord is not new, but talks about a $10-billion sale to Microsoft has the world wondering about this videogame-centric chat app.
Microsoft is in talks to buy messaging platform Discord for more than US$10-billion, Bloomberg News reported, citing people familiar with the matter.
ByteDance is suing Tencent Holdings over alleged monopolies in its WeChat and QQ platforms, escalating a feud between the leading Chinese social media giants.
The next killer smartphone app has arrived – and it offers the potential to transform how we communicate, share knowledge and even make new friends.
Social network firm Reddit said on Sunday ithat t would buy short-video platform Dubsmash, becoming the latest company to expand in a space dominated by Chinese-owned TikTok.
A deadline set by the Trump administration for the forced sale of TikTok’s US assets is expected to come and go on Friday night without a final deal, according to people familiar with the discussions.
TikTok-owner ByteDance is on track to generate at least $27.2-billion in advertising revenue in China alone this year, which will cement its number two spot in China’s digital ad market, sources said.