ByteDance Is Considering Listing Some of Its Businesses Separately in Hong Kong
It's said that ByteDance is considering a separate Hong Kong listing for its Tik Tok business, and several investment banks, including Goldman Sachs, have talked about underwriting the deal.
ByteDance's Advertising Revenue to Reach USD 27 Bn in 2020
According to two people familiar with the matter, TikTok's parent company ByteDance would have at least CNY 180 billion (USD 27.14 billion) in advertising revenue in the China market this year.
According to data, ByteDance surpassed Baidu in the first half of 2019 to become China's second-largest digital advertising company, accounting for 23% (approximately USD 7.6 billion) of total digital advertising expenditures in China. Alibaba ranked first, with a revenue of USD 10.9 billion and a market share of 33%.
Although TikTok is ByteDance's famous product in the international market, this application contributes very little to ByteDance's total revenue. Its primary income still comes from China's TikTok, 'Douyin'.
People familiar with the matter also said that due to the continued expansion of the global market, ByteDance plans to increase investment in three important businesses next year, including e-commerce, search and long video.
Among them, ByteDance plans to invest a total of CNY 10 billion in video product ixigua next year, to increase the number of daily active users to more than 100 million.
Douyin's e-commerce platform is one of the fastest-growing sectors of ByteDance, and it is estimated that the gross merchandise transactions (GMV) this year will reach around CNY 150 billion.
Douyin's Enterprises Accounts Exceeds Five Million
ByteDance Acquires Technical Content Sharing Platform Xitu Juejin
According to Chinese media, ByteDance completed the acquisition of the technical content sharing platform Xitu Juejin a few months ago. Yueying, the former 360 senior technical director and web front-end chief architect, is responsible for operations.
Founded in 2014, Xitu Juejin is a platform for discovering and sharing high-quality content based on Internet technology, including daily selected content under iOS, Android, front-end, back-end, and design. The content distribution of new technologies is mainly for technology developers, product managers and operators of Internet companies.
The company completed a total of 3 rounds of financing with investors including Future Capital, Geek Founders, Zhangmen Technology, Peeli Ventures and Shangshi Fund. After completing a CNY 20 million A round of financing in 2017, the company reached a post-valuation of CNY 130 million.
Xitu Juejin is the fourth start-up company acquired by Bytedance in 2020. The remaining three are the medical science knowledge platform Baike Mingyi.cn, the container platform CaiCloud, and the mathematical thinking education product Nipaiyi.
TikTok and Shopify Cooperate in International Social E-Commerce
TikTok announced a new global partnership with Shopify, an e-commerce platform, to further invest in social commerce. The agreement aims to make it easier for Shopify's more than one million merchants to reach TikTok's young audience and promote sales.
In this new cooperation, Shopify merchants can create, run, and optimize their TikTok marketing activities directly from the Shopify dashboard by installing the new TikTok channel application from the Shopify App Store.
These advertising tools allow businesses to create native, shareable content and convert their products into in-feed video ads to resonate in the TikTok community. As part of this work, Shopify merchants can also install or connect their 'TikTok Pixel,' a tool that helps them track conversions driven by TikTok advertising campaigns more efficiently.
The two companies collaborated on the first joint Hashtag Challenge Plus event, #ShopBlack, to celebrate black-owned businesses. Earlier, Shopify introduced black-owned companies in its app Shop. Before today's announcement, Shopify and TikTok were collaborating to test various social commerce plans.
Trump Plans to Block WeChat and TikTok Downloads on Sunday
The Commerce Department plans to restrict access to TikTok and WeChat on Sunday as the Trump administration's executive orders against the two apps are set to take effect, according to CNN business.
The Department said Friday that, as of Sunday, any moves to distribute or maintain WeChat or TikTok on an app store will be prohibited. While users who have already downloaded the apps may be able to continue using the software, the restrictions mean updated versions of the apps cannot be downloaded.
The restrictions targeting WeChat are more extensive. Beginning Sunday, it will be illegal to host or transfer internet traffic associated with WeChat.
WeChat, one of the world's most popular social messaging apps, is owned by the Chinese Internet giant Tencent. And it is a popular marketing and sales tool for the United States companies, primarily in China. TikTok's parent company is Beijing-based ByteDance.
The department's move is the enforcement of Trump's original executive order from Aug 6 that gave TikTok 45 days to sell its US business to an American company or face a ban in that country. But the announcement also lays out a different time frame specific to TikTok, giving it until Nov 12 to resolve the US national security concerns.
The deadline set for the TikTok deal is a Sunday, Nov 12, leaving time for TikTok and Oracle to hammer out a deal that can be approved by Trump and the Chinese government.
TikTok Opposes the US Decision to Continue Processing Trump's Exclusive Order
TikTok's New Revision Keeps ByteDance as Majority Owner
TikTok's Chinese parent company, ByteDance, will continue to be a majority shareholder in the short-form video app under a proposed deal with Oracle being reviewed by the Trump administration this week, according to CNN business.
If both Trump and the Chinese government approve this new deal, Bytedance would still be the majority owner of this popular short-video App. And TikTok would become a global company with headquarters in the United States. At the same time, Oracle will host TikTok's user data and review TikTok's security code. As for Walmart, it may still have a role to play in the deal as a possible minority investor and e-commerce partner.
According to Bloomberg, at least three shareholders in TikTok's Chinese parent company -- General Atlantic, Sequoia Capital and Coatue Management -- would take stakes in the new business.
Also, according to people who familiar with the matter, TikTok would go public on an American stock market in about a year if the deal went through.
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