ByteDance
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| Company type | Privately held company |
|---|---|
| Industry | Information recommendation engine |
| Founded | March 2012 |
| Founders | Zhang Yiming |
| Headquarters | , |
Area served | Mainland China |
| Services | Information recommendation engine |
| Owner | Beijing ByteDance Technology Co., Ltd. |
| Subsidiaries | Toutiao |
| Website | www |
About
Beijing Bytedance Technology Co., Ltd. was founded in March 2012.
It is a mobile internet company dedicated to connect people with information. Using a self-developed intelligent recommendation engine, Bytedance helps content creators disseminate their work to the relevant target audience, using machine learning and data mining.
As of January 2017, Bytedance’s flagship product, Toutiao, has more than 700 million users in total, and also has 175 million monthly active users.[1]
Bytedance is headquartered in Beijing, and has operations in China, New York and Los Angeles. Bytedance signed a licensing deal with Studio 71, a multi channel network that belongs to Germany’s Prosieben group, in 2016. Studio 71’s content will be subtitled into Chinese and carried on Bytedance’s TopBuzz platform.[2]
The Wall Street Journal reported that terms of a new funding round ascribed a valuation of $10 billion.[3] In September 2016, Bytedance announced that it would invest $150 million on funding high-quality, short-form content for its global platform. Bytedance Inc. is funded by investors including Sequoia Capital, and Digital Sky Technologies.[4]
Subsidiaries
Leadership
Zhang Yiming, born in 1983, a Nankai University graduate, is the founder and CEO of Bytedance. He has been a serial entrepreneur who founded and co-founded many internet companies, including“KuXun”, 99fang and others. Named a “China’s 30 entrepreneurs under the age of 30” by Forbes and a “China’s 40 business elite under the age of 40” by Fortune, Zhang has risen to be one of the most watched and youngest game-changers within China’s Internet industry.[5]
References
- ^ Dillet, Romain. "Chinese news reading app Toutiao acquires Flipagram | TechCrunch". Retrieved 2017-07-03.
- ^ Frater, Patrick (2016-11-18). "China's ByteDance Signs Digital Content Deal With ProSieben's Studio 71". Variety. Retrieved 2017-07-03.
- ^ Macfarlane, Alec; Wu, Kane; Lin, Liza (2016-11-08). "Parent of News-Aggregation App Toutiao Seeks $10 Billion Valuation". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-07-03.
- ^ "Top Chinese App Company Bytedance to Feature Content From Leading Studio71 Creators | Broadcasting & Cable". www.broadcastingcable.com. Retrieved 2017-07-03.
- ^ "GMIC Silicon Valley". en.gwc.net. Retrieved 2017-07-03.