BYTEDANCE NEWS
Skydance bets big on AI-driven content
Paramount Skydance has completed its acquisition of Warner Bros Discovery for $110 billion. The company plans to focus on reducing costs through technology rather than employee layoffs. Skydance now owns an extensive range of film, TV, and news organizations, including HBO Max and CNN. The merger comes amid increasing competition from tech giants like Netflix and Amazon.
Meta bans TikTok ads on its platforms in US
Meta has implemented an immediate ban on advertisements from ByteDance across its platforms in multiple countries. This decision affects various locations including the US, Canada, and Japan. The ban also targets related third-party advertisements referencing TikTok and other ByteDance services. In response to this rivalry, Meta asserts that it will continue competing on quality and user experience. TikTok has yet to publicly comment on Meta's advertising ban and actions.
‘Daily time limits, filter controls, and account privacy’: TikTok agrees to ‘platform-level changes’ for teens, settles lawsuit with Alabama for $100 million days before trial
TikTok has agreed to pay Alabama $100 million following claims about its harmful impact on youth mental health. The settlement involves implementing safety features for teens to reduce negative effects from the platform. These features will include limiting daily usage and banning cosmetic filters for young users. Additionally, Alabama may receive further funds if other states reach similar arrangements.
TikTok founder Zhang Yiming overtakes Gautam Adani as Asia’s richest
ByteDance founder Zhang Yiming now leads Asia's wealthiest individuals. His fortune has surpassed Gautam Adani's due to the booming artificial intelligence sector. Zhang's wealth has significantly increased, driven by ByteDance's AI ventures and TikTok's global reach. This rise highlights the growing influence of AI-driven companies over traditional industries. China's continued investment in artificial intelligence fuels this ongoing technological competition.
SoftBank shares slide 13% after AI chiefs sound alarm on safety
The company plans a ¥1 trillion ($6.5 billion) retail bond issue and a $10 billion loan linked to OpenAI shares as it finances deals such as the acquisitions of ABB Robotics and DigitalBridge. SoftBank’s also floated plans to build data centers around the world.
ByteDance secures $29.6 billion loan in AI push, sources say
ByteDance secured a massive $29.6 billion loan from nearly thirty banks. Chinese banks provided over sixty percent of this significant loan facility. The funds will primarily support ByteDance's ambitious overseas artificial intelligence expansion plans. This unsecured loan reflects strong lender confidence in the company's creditworthiness. The financing is the second-largest in Asia this year, highlighting sector enthusiasm.
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TikTok owner ByteDance on track for $50 billion profit in 2025
The Beijing-based parent company of TikTok is on track to hit that milestone after amassing net income of about $40 billion over the year’s first three quarters, people familiar with the matter said. It’s already surpassed its internal target for 2025, the people said.
TikTok parent ByteDance's valuation hits $300 billion, sources say
After proposing a share buyback program at $180.70 per share, ByteDance, parent company of TikTok has been valuing itself at $300 billion, a 12.9% increase in per share price from the previous buyback value of $160. According to one source, ByteDance had already been planning a buyback program, regardless of the US presidential election's results.
China video app Douyin Group CEO resigns to take new role within ByteDance
Zhang Nan, who also uses the English first name Kelly, posted on her personal social media account on WeChat that she was resigning from the position, in a move confirmed by ByteDance.
ByteDance says committed to VR business Pico after report of it shutting brand
The Pico headsets are often seen as ByteDance's answer to the popular Quest headsets developed by Meta Platforms Inc. Pico has the biggest market share for VR headsets in China, accounting for over 58% of the market, as Meta's Quest devices have yet to enter the country officially.
ByteDance plans for maximum of nine board directors: source
This week Reuters reported that TikTok, the popular short video app, could face a fine of $29 million in Britain after an investigation showed it may have breached data protection laws regarding the privacy of children.
ByteDance pays $1.5 billion for China hospital chain in health foray
TikTok’s Chinese owner paid about 10 billion yuan to take full ownership of Amcare Healthcare, which runs women’s and children’s hospitals in cities from Beijing to Shenzhen
ByteDance said to weigh sale of stake in sneaker reseller Poizon
The TikTok owner has engaged in talks about a sale of a low single-digit percentage-point stake, and would prefer to sell to an existing investor, the people said.
TikTok owner ByteDance 'scraped' content from Instagram, Snapchat
ByteDance allegedly took videos, usernames, pictures and more from the social media platforms and uploaded them to the app without users' consent or knowledge.
TikTok owner ByteDance's revenue growth slowed to 70% in 2021
Chinese tech giants from Tencent to Alibaba have reported slowing growth amid a wide-ranging crackdown by the country's regulators who have rolled out new rules that have impacted how such companies carry out deals and interact with their users.
ByteDance said to be in talks to borrow up to $3 billion
TikTok owner ByteDance plans to take advantage of currently low-interest rates to repay its debt, however, terms and the loan size are still subject to changes
ByteDance says it will downsize fintech business, plans to sell stock broker ops
ByteDance also operates Douyin Pay, its own third-party mobile payment, to facilitate users on e-commerce transactions on short video app Douyin, the Chinese version of TikTok.
ByteDance says it has no immediate plans for public listing
ByteDance last month hired former Xiaomi executive Shou Zi Chew to a newly-created role as chief finance officer, suggesting the tech company was moving a step closer to a much-anticipated IPO.
TikTok founder Zhang Yiming enters world's richest people-club with over $60 billion net worth
During its last fundraising round, ByteDance reached a $180 billion valuation.
ByteDance considers listing Douyin in New York or Hong Kong: Report
The company had also been considering listing some of its Chinese businesses including news aggregator Toutiao in Hong Kong or on Shanghai's STAR market.
ByteDance explores sale of Indian TikTok assets to rival firm Glance: Report
Glance's parent, mobile advertising technology firm InMobi, also owns short-video app Roposo that has gained in popularity after TikTok was banned by the Indian government in July last year.
TikTok owner ByteDance in fundraising talks that will value it at $180 bln -sources
The company is discussing the round with existing investors including Sequoia Capital and General Atlantic to raise around $2 billion for the company, the people said, declining to be named as the talks were not public.
New Chinese rules on export ban could hinder TikToK sale: Chinese news channel CGTN
The revised catalogue, released on Thursday jointly by China's Ministry of Commerce (MOFCOM) and the Ministry of Science and Technology, added a total of 23 items subject to export restrictions while deleting four items prohibited from export, including microbial fertilizing and caffeine production technologies, CGTN reported.
ByteDance AI research head to leave as pressure mounts on TikTok
Beijing-based ByteDance said on Tuesday the head of its artificial intelligence lab will leave the company, as its short-video app TikTok faces U.S. scrutiny over security and privacy issues.
TikTok owner ByteDance shuts down overseas news aggregator TopBuzz
ByteDance is currently under a U.S national security inquiry into TikTok's handling of user data, and also facing tightened scrutiny from regulators around the world.
TikTok owner ByteDance aims to build global reach before IPO
Discussions around an eventual IPO come at a time when ByteDance needs new engines of growth with TikTok on the wane as global downloads of the video app fell for the first time in the September quarter.
TikTok’s parent pushes into search business
ByteDance, known for aggressively recruiting top tech talent, is turning its attention to one of the most lucrative businesses online.
TikTok ramps up recruiting from big tech with Facebook exec hire
Bytedance has already hired several executives from YouTube, including Vanessa Pappas, a seven-year veteran of the Google video service.
Move Over, Uber: This little known media company is now the world’s most valuable startup
Six-year-old Bytedance has surpassed Uber Technologies Inc. to become the world’s most valuable startup.
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