TikTok Archives - Pandaily

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

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

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

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

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

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

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

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

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

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

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

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

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%

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

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

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

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.