TECHNODE
03/07/2022
ByteDance has decided to transfer Song Binghua and Wu Zuomin, two executives from Douyin content product units, to its virtual reality subsidiary Pico Interactive, local media outlet LatePost reported on Mar. 3. The move comes just two days after the TikTok-owner entered a partnership with chip giant Qualcomm to develop an extended reality ecosystem, the underlying technology that supports Metaverse services. ByteDance acquired Pico, the main basis for the Qualcomm partnership, for RMB 9 billion ($1.4 billion) in August last year.
TECHNODE
02/22/2022
TikTok parent company ByteDance has signed an agreement to sell its stock app Dolphin Stock to ChinaLin Securities for RMB 20 million ($3.15 million), as reported by Reuters. After the deal, ChinaLin Securities will acquire the full equity of Dolphin Stock, which was founded in 2017 and provides financial and securities information. Third-party evaluation of the Dolphin Stock app showed that it had 319,000 monthly active users as of August 2021, as reported by Reuters. Bytedance revealed last year that it has plans to sell its securities-related businesses, which some analysts attributed to increased regulatory pressure on private FinTech services.
CNBC
01/19/2022
TikTok owner ByteDance has disbanded its investment department, a company spokesperson told CNBC Wednesday.
