Tag: tiktok

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

Asian streaming startup M17, still recovering from a failed IPO, raises another $25M

M17, the Taiwanese streaming company that controversially priced on the NYSE but didn’t list, has returned to the private markets after it raised a $25 million funding round. The round was led by Terry Tsang — CEO of Hong Kong-based games company Madhead — with participation from Pavilion Capital, Stonebridge Ventures and existing investors. This

Netflix rival Iflix launches $5M search for up-and-coming filmmakers in Asia

Netflix is increasing its efforts in Asia after it commissioned more local content and began testing more aggressive price points, but one local rival is hitting back with a program to spotlight promising creators in the region. Malaysia-headquartered Iflix, which operates in 26 countries across Africa, the Middle East and Asia, today

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

The forgotten ‘Facebook of China’ is sold for $20M

Renren, which was once heralded as the ‘Facebook of China’ and later became China’s answer to MySpace after falling out of fashion among its core young users, is selling its social networking business. Renren’s parent company Beijing Qianxiang Wangjing has agreed to sell all tangible and intangible assets of renren.com

Facebook Lasso app lead Brady Voss leaves for Netflix right after launch

Facebook Lasso has a steep uphill climb ahead as it hopes to chase the musical video app it cloned, China’s TikTok (which merged with Musically). Lasso lets you overlay popular songs on 15-second clips of you lip syncing, dancing, or just being silly — kind of like Vine with a

Facebook launches Lasso, its music and video TikTok clone

Done cloning Snapchat, Facebook is now chasing Chinese short-form video sensation TikTok with the launch of its knock-off Lasso. Available now for iOS and Android, Lasso is Facebook’s answer to the zany mobile lipsyncing playground that’s gained ground with young users, both in China and in the West. The release confirms

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