Tag: bytedance

TikTok parent ByteDance said to raise $1.45 billion for AI and content

ByteDance, the Chinese company behind the immensely popular video app TikTok, is in talks to raise $1.45 billion for a new fund, The Information reported on Friday citing sources. The fresh vehicle will help power artificial intelligence and media content for the $75 billion startup that has leapfrogged Uber’s valuation, the report said. ByteDance

China’s hottest news app Jinri Toutiao announces new CEO

You may not have heard of ByteDance, but you probably know its red-hot video app TikTok, which gobbled up Musical.ly in August. The Beijing-based company also runs a popular news aggregator called Jinri Toutiao, which means “today’s headlines” in Chinese, and the app just assigned a new CEO. At a company event

China’s obsession with short videos has its internet giants worried

Take a subway ride in China and expect to see a lot of commuters’ eyes glued to TikTok videos on their phones. Video clips like TikTok’s are now consuming nearly nine percent of Chinese people’s time online, a 5.2 percent jump from 2017, according to app analytics firm QuestMobile. Apps

China’s ByteDance leapfrogs Uber to becomes world’s most valuable startup

Move aside Uber, China’s ByteDance is now the world’s highest-valued tech startup. That’s according to reports from Forbes and Bloomberg both of which claim that the company has completed a $3 billion investment that values the company at $75 billion. A source with knowledge of the deal confirmed the round

Facebook is building a video music app to steal TikTok’s teens

Facebook is working on a new app that it hopes could win back the attention of teens while capitalizing on its recently-attained major label music licenses. Facebook is building a standalone product where users can record and share videos of themselves lip syncing or dancing to popular songs, according to

The investors and founders of Yellow, 99 Taxis, and Didi will talk about the new mobility race at Startup Battlefield Latin America

In the nine months since Didi acquired the Brazilian ride hailing startup 99 in a deal that valued the company at a reported $1 billion, the market for mobility and logistics startups in Latin American region has changed dramatically. The Didi deal was perhaps the first big acquisition for a

China reaches 800 million internet users

China’s internet population has now grown beyond 800 million, according to the latest data from the Chinese government. A new report [in Chinese] issued by the China Internet Network Information Center (CNNIC) put the number of people in China with access to the internet at 802 million. The agency —

Apple cracks down on gambling apps in China

Apple is cracking down on illegal content in China after it removed potentially thousands of apps related to gambling. The Wall Street Journal reported that the U.S. phone-maker purged as many as 25,000 apps — that’s a figure that was first cited by state-owned broadcaster CCTV [link in Chinese]. Apple

Musical.ly investor bets on internet radio with $17M deal for Korea’s Spoon Radio

One of the early backers of Musical.ly, the short video app that was acquired for $1 billion, is making a major bet that internet radio is one of the next big trends in media. Goodwater Capital, one of a number of backers that won big when ByteDance acquired Musical.ly last

Fast-growing Chinese media startup ByteDance is raising $2.5B-$3B more

Fast-growing Chinese media startup ByteDance is looking to raise as much as $3 billion to continue growth for its empire of mobile-based entertainment apps, which include news aggregator Toutiao and video platform Tiktok. The Beijing-based startup is in early-stage talks with investors to raise $2.5 billion to $3 billion, according