Tag: bytedance

Zhang Yiming, the founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as a chief executive and be succeeded by human resource chief Liang Rubo, the company disclosed today(20th May 2021). The move, first reported by Reuters, represents the biggest corporate shake-up at ByteDance since its launch in 2012. The company grew to become a dominant social media force in China and turned TikTok, a short-video app popular with teenagers, into a global sensation. Zhang will move to a "key strategy" position at the end of this year, ByteDance said in a statement.

Bytedance, the owner of Tiktok and Helo apps, has announced the closure of its India business following continued restrictions on its services in the country. TikTok's global interim head Vanessa Pappas and vice president for global business solutions Blake Chandlee in a joint email to employees have communicated the decision of the company that it is reducing team size and the decision will impact all employees in India. The executives expressed uncertainty about the company's comeback to India but expressed hope to do so in times to come. "We look forward to receiving the opportunity to relaunch TikTok and support the hundreds of millions of users, artists, storytellers, educators, and performers in India," the spokesperson said.

Microsoft may strike a deal to buy all of TikTok’s global business, including the viral video app’s operations in India and Europe. The value of Tik-Tok’s India business may be as much as $10 billion. On Sunday (2nd August 2020) Microsoft had said that it was in negotiations with ByteDance, the Chinese owner of TikTok and the world’s largest startup, to explore a purchase of the TikTok service in the US, Canada, Australia, and New Zealand. Since then, Microsoft has also pursued a plan that will include all countries where TikTok operates.It does not operate in China, and such a deal would not extend to its China-facing sister app Douyin. Read more