ByteDance Tag

25 Mar PDD’s Colin Huang surpasses Tencent, ByteDance founders as China’s richest tech billionaire after Pinduoduo outgrows e-commerce rivals

Posted at 11:36h in Asia

Colin Huang, the founder of PDD Holdings, has become China’s richest technology entrepreneur after a surge in the value of its US-listed shares, allowing him to surpass the nation’s more illustrious tycoons Pony Ma Huateng of Tencent Holdings and Zhang Yiming of Bytedance.The 44-year-old grew...

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14 Mar Tencent snaps up some of ByteDance’s ditched video gaming projects amid industry consolidation, people say

Posted at 14:00h in Asia

LightSpeed Studios, one of Tencent’s key gaming units and the maker of popular title PUBG Mobile, has absorbed a project in Shenzhen previously owned by ByteDance’s Gravity Studio and an open-world project belonging to ByteDance’s Jiangnan Studio in Hangzhou, according to people familiar with the...

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14 Mar TikTok owner ByteDance acquires stake in memory chip firm InnoStar to bolster VR unit Pico as it takes on Apple’s Vision Pro

Posted at 11:00h in Asia

Picoheart, a Singapore-based affiliate of ByteDance, earlier this month invested an undisclosed amount to acquire a 9.5 per cent shareholding in state-backed InnoStar, which is headquartered in Shanghai, according to data from company registry information provider Qichacha.That investment was made “in hopes of utilising the...

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11 Mar TikTok gets thumbs up in China for ‘tough stance’ against US lawmakers pushing new effort to ban the ByteDance app

Posted at 12:30h in Asia

ByteDance, the Chinese tech unicorn that is again facing a US ban of its flagship TikTok app unless it divests, has earned a “thumbs up” at home after rallying its young users against the legislation in an effort mirroring some of the more aggressive tactics...

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07 Mar TikTok owner ByteDance offers to buy back shares from employees at 7 per cent premium over previous round

Posted at 10:30h in Asia

ByteDance, China’s most valuable unicorn and the owner of TikTok, has started a new round of share buy-backs for its global employees that price the equity higher than the previous round, according to two people familiar with the matter.The Beijing-based company has offered to purchase...

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06 Mar China to oppose US lawmakers’ new move forcing ByteDance to divest TikTok amid mainland tech restrictions, analysts say

Posted at 13:30h in Asia

A bipartisan bill was introduced in the US House of Representatives on Tuesday that would give ByteDance 165 days to divest TikTok, or else the app would no longer be available on US app stores or be accessible on web-hosting services in the country.The Chinese...

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05 Mar Alibaba tests generative AI tools for Taobao and Tmall merchants as new tech arms race heats up China’s e-commerce sector

Posted at 13:00h in Asia

The generative AI tools provided by Huiwa, operated by Alibaba subsidiary Hangzhou Lianfan Information Technology, enable merchants to create both text and graphics content. Alibaba owns the South China Morning Post.A merchant, for example, can input a brief description of a product, which prompts the...

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29 Feb Exclusive | AI takes priority at TikTok owner ByteDance, as Sora disrupts the future of video creation

Posted at 13:30h in Asia

ByteDance is “secretly” working on multiple AI products, including text-to-image and text-to-video technology, according to a report on Wednesday by Chinese media outlet Jiemian.The team responsible for video-editing app CapCut, managed by Kelly Zhang Nan – former CEO of the Douyin unit, which oversees TikTok’s...

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28 Feb Alibaba’s South Asian e-commerce unit Daraz to conduct new round of lay-offs

Posted at 09:00h in Asia

“Reluctantly, we will bid farewell to many valued members of the Daraz family,” acting chief executive James Dong said in an internal memo published on the company’s website on Tuesday. Alibaba, owner of the South China Morning Post, acquired Daraz in 2018.“Despite our efforts to...

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21 Feb Which were the most used apps during Lunar New Year? Familiar names like Tencent and ByteDance dominated top 5

Posted at 23:00h in Asia

The most used apps in China during the Lunar New Year holiday were familiar domestic social media and content platforms that have dominated the market for the past decade, according to government data.Among the apps that used the most cellular data during the nine-day holiday...

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