TikTok owner ByteDance renames-To The Moon - Tiger Brokers Online Investing Community - To The Moon

TikTok owner ByteDance renames some subsidiaries, reviving speculation of Hong Kong IPO

ByteDance (Hong Kong) Limited, a legal entity established in 2012 under its Beijing-based parent, was renamed Douyin Group (Hong Kong) Limited with effect on May 6, according to information found on the Companies Registry of Hong Kong. Douyin is the name of the Chinese version of popular short-video app TikTok.

Some other entities under ByteDance have also been renamed, according to China's National Enterprise Credit Information Publicity System.

The changes have renewed speculation that ByteDance could be planning an IPO for Douyin. Moreover, ByteDance last month appointed veteran corporate lawyer Julie Gao as chief financial officer. She has advised many Chinese technology companies on public listings and other transactions.

Douyin, which works similarly to TikTok, is one of the most popular apps in China, with more than 600 million daily active users. In November, ByteDance announced a sweeping reorganization that would see its sprawling, algorithm-driven operations divided into six business groups – with TikTok and Douyin being two separate units.

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Comments

VivienWilcox
2022-05-10
VivienWilcox
From my perception point of view, I am not a big fan of this company.
Tutoy17
2022-05-10
Tutoy17
I Had tried tiktok and its fun, lets this how its works
FredLee
2022-05-10
FredLee
It has a lot of users but the moat is a bit weak.
FredLee
2022-05-10
FredLee
What are the core competencies of this company?
Nase
2022-05-10
Nase
Warm UP
TCMSG
2022-05-10
TCMSG
[What] [What]

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