The TikTok ByteDance parent company logo was seen on its booth during a media tour held at the Zhongguancun National Innovation Demonstration Zone Exhibition Center in Beijing, China, February 10, 2022. REUTERS/Florence Lo
BEIJING, July 14 (Reuters) – TikTok’s Chinese owner, ByteDance, is looking for the next big hit by going deeper into the social media lifestyle sector with Kesong, a shopping app and lifestyle advice similar to market leader Xiaohongshu.
Kesong, launched last week, allows users to share photos, videos and write fashion tips and shopping experiences.
It mimics Xiaohongshu, often equated with Meta Platforms Inc’s (META.O) Instagram and is widely considered the embodiment of “planting grass” – the notion that reviews can tempt readers or followers to buy a product or service.
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Fashion and luxury brands often switch to Xiaohongshu influencer who can reach millions of affluent users in China. This may interest you : Being agile and strategic helped this entrepreneur overcome business obstacles. Abroad, Xiaohongshu is known as Red in countries including Singapore, Malaysia, Australia, Canada and the United States.
Hardware and software manufacturer ByteDance cost around $ 300 billion in recent trade and became known as the application manufacturer. It has produced a series of hits from news aggregator Toutiao to short video app Douyin and its overseas counterpart TikTok, the most successful app abroad in China.
They are trying their hand at “planting grass” applications in 2018 and Xincao is short -lived. Tried again in 2020 with Sharee, aimed at overseas markets. Later renamed Lemon8, the app has more than a million downloads in Japan and has been expanded to Thailand.
Lemon8 is exploring the possibility of expanding to Australia, two people at the company told Reuters.
The application was overseen by Alex Zhu, senior vice president of product and strategy at ByteDance and former head of TikTok, said the two people, declined to be introduced because they were not authorized to speak with the media.
“ByteDance is very determined to break down the‘ high-brow ’market (with Kesong and Lemon8) to achieve a higher ARPU,” said one person, referring to average revenue per user.
ByteDance did not respond to a comment request.
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Reporting by Yingzhi Yang and Brenda Goh; Edited by Christopher Cushing This may interest you : United States: National Day of South Sudan.
Our Standards: Thomson Reuters Trust Principles.
ByteDance is a technology company that operates a range of content platforms that inform, educate, entertain and inspire people in languages, cultures, and geographies.
Does China track TikTok?
A TikTok spokesperson stated that the application data is stored in the US and Singapore, not in China. To see also : Ann Arbor’s New Company Creates Personalized Travel Guides. TikTok does not allow users in China to access the app and puts them on a separate platform called Douyin, a spokesman said.
Who makes Chinese TikTok? Zhang Yiming, founder of TikTok ByteDance, has raised the ranks of the richest billionaires in China under 40, the Shanghai -based Hurun Research Institute said on Friday.
Is TikTok owned by China still?
ByteDance has TikTok, although previously there were talks about selling the company to American companies. This Chinese technology company has already achieved its ambitions to be as large as some of its competitors, such as Alibaba, Tencent, and Baidu. ByteDance is based in Beijing, China, and has offices around the world.
WHO country owns TikTok?
Currently, Chinese company ByteDance has TikTok. Zhang Yiming is the owner and founder.
Is TikTok still owned by China?
The Chinese government now controls shares in parent company TikTok ByteDance. TikTok is one of the largest social media platforms on the web.
Does TikTok still belong to China 2021? In November 2021, TikTok CEO Shou Zi Chew resigned from his role as CFO of ByteDance (a job he held while also running TikTok). But until now, there has been no action by the company that changes the core relationship between the companies: ByteDance still owns and controls TikTok now.
Does China still own US TikTok?
TikTok, a viral video sharing app owned by China’s ByteDance Ltd., says employees outside the U.S. can access information from American users, sparking more criticism from lawmakers who have raised alarms about social network data sharing practices.
Is TikTok owned by China?
TikTok, available to millions of Americans through Apple and Google online stores, is owned by Beijing -based company ByteDance, an organization that Carr asserted “is the Chinese Communist Party and required by Chinese law to comply with PRC surveillance demands.”
Is TikTok still owned by China 2022?
| Screenshot of the TikTok.com website | |
|---|---|
| Early release | September 2016 |
| Stable output | 21.6.5 / 18 October 2021 |
| Operating system | ios Android |
Who owns TikTok now 2022?
The aggressive mobile gaming boost TikTok-owner ByteDance pays when player spending increases. TikTok owners generated $ 1 billion in player spending on its mobile games between June 21, 2021 and June 20, 2022, a 16% increase from the same period last year, according to Sensor Tower.
When was TikTok made? The app was launched in 2016 by Chinese technology company ByteDance. Now available in more than 150 different markets, TikTok has offices in Beijing, Los Angeles, Moscow, Mumbai, Seoul, and Tokyo. The app was seeing around 1 billion daily users globally by early 2022.
How much is TikTok worth?
The TikTok award in 2020 puts it at $ 50 billion. There are some experts outside who claim that this number is higher than in 2022 and believe that it is clever at $ 75 billion. So, the bottom line and net worth of TikTok is at least $ 50 billion, and up to $ 75 billion.
Who is the actual owner of TikTok?
Zhang Yiming (Chinese: å¼ ä¸ € é¸ £; born April 1, 1983 in Longyan, Fujian) is a Chinese internet entrepreneur. He founded ByteDance in 2012 and developed the Toutiao news aggregator and video sharing platform TikTok (Douyin/æŠ – 音), formerly known as Musical.ly.
What is this TikTok?
TikTok is a social media platform for creating, sharing and finding short videos. The app works by youth as an outlet to express themselves by singing, dancing, comedy, and lip syncing, and allows users to create videos and share them to the community.
