TikTok Archives - Pandaily

ByteDance Reportedly Seeking a $9.5 Billion Loan

Pandaily — Tue, 03 Sep 2024 01:57:25 +0000

ByteDance is reportedly seeking a loan of $9.5 billion, poised to be the largest dollar-denominated corporate loan in Asia, excluding Japan.

French Billionaire Xavier Niel Joins ByteDance’s Board of Directors

Pandaily — Mon, 02 Sep 2024 08:07:37 +0000

French billionaire and founder of Iliad Telecom Group, Xavier Niel, has joined ByteDance's board.

TikTok Is Testing Local Lifestyle Services in Indonesia and Thailand

Pandaily — Wed, 28 Aug 2024 07:55:27 +0000

TikTok is testing its local lifestyle business overseas, with the first stop being Southeast Asia. Currently, the business has launched in Indonesia and Thailand.

ByteDance Denies that ‘TikTok Proposed Transferring Control to the U.S. Government in 2022’

Pandaily — Thu, 30 May 2024 07:36:17 +0000

On May 30th, ByteDance issued a statement denying that "TikTok had proposed transferring control to the US government in 2022".

ByteDance’s Lifestyle App Lemon8 Is Gaining Popularity in the United States

Pandaily — Tue, 07 May 2024 07:08:52 +0000

The popular lifestyle app Lemon8, launched by the Chinese social media giant ByteDance four years ago, is gaining increasing popularity in the United States.

ByteDance Denies 60% Profit Growth in 2023: Profit Growth and Data Are Not True

Pandaily — Thu, 11 Apr 2024 09:31:37 +0000

ByteDance officially denies a 60% increase in profits in 2023: 'Media reports about ByteDance's profit growth and data rumors are not true.'

ByteDance Denies Former Blizzard CEO’s Negotiation to Purchase TikTok

Pandaily — Sun, 10 Mar 2024 07:21:43 +0000

ByteDance denies that the former CEO of Blizzard has contacted Zhang Yiming regarding the potential acquisition of TikTok for $100 billion.

Jiang Lu, Head of Google’s VideoPoet Project, Joined TikTok

Pandaily — Fri, 23 Feb 2024 02:03:06 +0000

Jiang Lu, a senior scientist at Google and part-time professor at Carnegie Mellon University's School of Computer Science, has joined TikTok.

To Attract Young Voters, the Biden Campaign Team Sets Up An Account on TikTok

Pandaily — Tue, 13 Feb 2024 03:33:14 +0000

US President Biden's campaign team took advantage of the momentum of the Super Bowl to create a TikTok account, in order to attract support from young voters.

Zhang Nan Resigns as CEO of Douyin Group to Focus on ByteDance’s CapCut

Pandaily — Wed, 07 Feb 2024 05:57:09 +0000

On February 7, Zhang Nan, CEO of Douyin Group, officially announced her resignation as Group CEO on WeChat, and will focus on the development of the Bytedance product CapCut in the future.

TikTok Officially Takes Majority Stake in Local Tech Giant Tokopedia

Pandaily — Thu, 01 Feb 2024 07:02:56 +0000

Indonesian tech giant GoTo announced today that TikTok has officially completed the transaction announced in December last year, spending $840 million to acquire 75.01% of the shares in GoTo's e-commerce subsidiary, Tokopedia.

Universal Music to Cease Licensing Music to TikTok and Publicly Accuses the Platform; TikTok Responds

Pandaily — Wed, 31 Jan 2024 14:59:23 +0000

In its announcement, Universal Music accused TikTok of "trying to build a music-based business without paying a reasonable price for the music."

PICO’s VP Resigns to Launch Cross-Border E-commerce Startup

Pandaily — Tue, 23 Jan 2024 05:50:48 +0000

ByteDance's Vice President of its virtual reality division, PICO, Ren Lifeng, has officially resigned to embark on a new entrepreneurial journey in the cross-border e-commerce sector.

Oriental Selection Teams Up with TikTok for Overseas Expansion

Pandaily — Tue, 23 Jan 2024 04:53:43 +0000

Oriental Selection is exploring overseas markets with TikTok, improving the efficiency of product procurement processes by integrating high-quality supply chain resources.

ByteDance Accelerates the Relocation of TikTok Employees Overseas

Pandaily — Wed, 17 Jan 2024 04:23:39 +0000

TikTok's front-end and back-end developers, data analysts, algorithm engineers, and other positions working in China have been receiving notices to transfer to overseas locations.

ByteDance Launches Another Share Buyback, Valuation Declined by 10%

Pandaily — Thu, 07 Dec 2023 12:50:00 +0000

ByteDance, the parent company of TikTok, is allegedly proposing to repurchase approximately $5 billion in shares from investors, a move that would value the company at around $268 billion, according to two sources familiar with the matter, per Reuters.

TikTok Launches E-Commerce Services for US Users in October

Pandaily — Wed, 13 Sep 2023 11:22:45 +0000

TikTok officially launched e-commerce services in the United States, and starting in early October, all American users will be able to see the entrance on the homepage.

Douyin Denies Giving up the Food Delivery Business

Pandaily — Tue, 05 Sep 2023 02:38:32 +0000

Regarding the media report "Douyin abandons food delivery," Douyin stated that this information is untrue, and its group purchasing and delivery business is operating normally.

TikTok Undergoes Business Adjustments, Ramping up E-commerce Efforts

Pandaily — Tue, 04 Jul 2023 05:00:58 +0000

TikTok's e-commerce business has undergone business adjustments in the past few months. Notably, the platform has introduced a new model for its e-commerce project codenamed Project S. In simple terms, Project S operates with a full custody model. Under the model, merchants are only responsible for supplying goods, while the platform covers operations and fulfillment.

SHEIN Refutes Risk of Shutdown in the US

Pandaily — Mon, 27 Mar 2023 04:17:59 +0000

A recent report suggested that Chinese fast fashion retailer SHEIN could face the threat of a "Shut Down SHEIN" campaign. SHEIN has denied the allegations and affirmed its adherence to US laws and regulations.

TikTok CEO Grilled by US Lawmakers

Lynn Lin — Sat, 25 Mar 2023 06:54:53 +0000

The United States Congress recently held a hearing on TikTok after a three-year hiatus, revisiting concerns over the app's ownership by ByteDance and the possibility of separating it from the Chinese parent company or outright banning it in the US.

China Responds to ByteDance Share Sale Requirements By US

Pandaily — Thu, 16 Mar 2023 13:30:32 +0000

At a regular press conference on March 16, China's Foreign Ministry Spokesperson Wang Wenbin responded to a question about TikTok.

ByteDance’s Video Editor CapCut With 200M MAU Targets High Earnings

Pandaily — Fri, 03 Mar 2023 06:55:54 +0000

CapCut, a video editor owned by Chinese tech giant ByteDance and lesser known compared to TikTok, has obtained 200 million monthly active users (MAUs). It is now exploring commercialization.

ByteDance Extends Business Review Cycle from Two Months to A Quarter

Pandaily — Fri, 17 Feb 2023 09:08:24 +0000

On the morning of February 17, Liang Rubo, CEO of Beijing-based internet technology company ByteDance, sent an internal letter to all employees, saying that he would adjust the cycle of setting and reviewing of performance targets from bimonthly to quarterly.

Douyin’s Content Product Manager Zhi Ying Transferred to TikTok

Pandaily — Wed, 01 Feb 2023 09:08:44 +0000

Zhi Ying, vice president and head of content products of Douyin and Xigua Video, has been transferred to TikTok, Douyin's sister app. She will be responsible for TikTok's products, content ecology and other businesses.

ByteDance Launches Douyin Chat as Firm’s Exploration of Social Media Continues

Pandaily — Wed, 04 Jan 2023 06:32:27 +0000

ByteDance's Douyin, a short video app that is the counterpart of TikTok for mainland China, recently launched desktop software on its official website called "Douyin Chat," providing service for Windows and Mac clients.

ByteDance Initiates Layoffs for 10% of Staff

Pandaily — Tue, 03 Jan 2023 08:52:05 +0000

Chinese tech giant ByteDance has launched a round of layoffs covering about one-tenth of its employees, mainly affecting staff members focused on R&D, products and operations.

ByteDance’s TikTok Appoints New Division Head Transferred From Toutiao

Pandaily — Wed, 28 Dec 2022 04:19:29 +0000

The e-commerce arm of ByteDance-owned TikTok will see Kevin Chen, the current the head of news aggregator Toutiao, lead its product and data science division.

ByteDance to Continue Making Structural Adjustments

Pandaily — Thu, 15 Dec 2022 14:13:53 +0000

Liang Rubo, CEO of Chinese internet technology company ByteDance, said at the All-Hands employee meeting held on December 14 that the company would continue to make structural and personnel adjustments, which will be mild.

ByteDance’s TikTok Shop Officially Launched in US

Pandaily — Fri, 11 Nov 2022 05:40:00 +0000

On November 10, news that TikTok Shop will be launched in US was finally confirmed. In order to register for TikTok Shop in the US, merchants will need to use a domestic mobile phone number and email address, or an existing TikTok account. An invitation code is also required.

TikTok Is Recruiting Laid-Off Meta Employees

Pandaily — Fri, 11 Nov 2022 05:30:00 +0000

Meta announced 11,000 job cuts on November 9. Many affected individuals have since taken to TikTok to share their experiences and feelings of being laid off, and the ByteDance-owned short video platform has even begun to recruit a large number of them.

SHEIN Pilots Taobao Model in Brazil

Pandaily — Thu, 10 Nov 2022 04:15:00 +0000

SHEIN, a cross-border fast fashion platform based in China, is piloting a model similar to Taobao in Brazil, whereby merchants set up stores directly on the site and are responsible for their own operations and logistics.

TikTok to Expand E-Commerce Business to US and Spain

Pandaily — Fri, 04 Nov 2022 05:34:38 +0000

Following prior moves in the UK and Indonesia, ByteDance's TikTok is preparing to explore the Spanish e-commerce market, while several US merchants have participated in small-scale tests of TikTok's domestic online shopping platform.

Insiders Deny ByteDance’s TikTok Has Reached 1B Worldwide Daily Active Users

Pandaily — Tue, 18 Oct 2022 14:46:00 +0000

It was reported that at about 17:31 on October 18, the global daily active users (DAU) of TikTok, a world-famous short video sharing app under ByteDance, exceeded 1 billion. Company insiders later responded that the news was untrue.

TikTok Aims to Pass 1B Global Daily Active Users, to Start E-Commerce in Brazil

Pandaily — Tue, 18 Oct 2022 05:10:00 +0000

ByteDance's TikTok has set a goal to reach 1.05 billion daily active users (DAUs) globally by the end of 2022. The popular short video platform currently has more than 800 million DAUs.

ByteDance’s Douyin Group Launches New Logo

Pandaily — Wed, 12 Oct 2022 11:21:38 +0000

ByteDance subsidiary Douyin Group launched a new logo on October 12, and its account avatars on Douyin, TikTok's sister app for mainland China, and on its official WeChat account have been replaced with new ones.

Report: ByteDance Did Not Lose $84.9B in 2021 as Claimed

Pandaily — Mon, 10 Oct 2022 11:35:59 +0000

TikTok parent company ByteDance reportedly achieved revenue of $61.7 billion in 2021, an increase of 80% year-on-year. Meanwhile, net losses reached an astonishing $84.9 billion.

ByteDance Launches Women’s Fashion Retail Platform “If Yooou”

Pandaily — Fri, 23 Sep 2022 08:29:34 +0000

ByteDance, the Beijing-based parent company of TikTok, has recently launched a new fast-fashion retail platform named "If Yooou." It currently covers European countries such as the UK, France, Germany, Italy and Spain.

TikTok’s Answer to BeReal Is Yet to Be Tested Beyond Now

Weiyu — Wed, 21 Sep 2022 02:43:00 +0000

The 2022 social media landscape in a nutshell: Facebook trying hard to be Instagram, Instagram trying hard to be TikTok, and TikTok trying hard to be BeReal.

Kuaishou Reorganizes Overseas Business, Sets up Commercialization Teams in Brazil and Indonesia

Pandaily — Fri, 16 Sep 2022 12:48:00 +0000

Chinese short video app Kuaishou's overseas business structure has been adjusted. A separate international commercialization department was set up within the division to boost revenue.

TikTok and WeChat Deny User Records Leakage