ByteDance is a privately owned Chinese technology company founded in 2012. Its primary business is software development, focusing on creating and operating a portfolio of content platforms designed for information dissemination, education, and entertainment. These platforms, which include TikTok, Helo, Vigo Video, Douyin, and Huoshan, are available in over 150 markets and 75 languages. The company employs approximately 130,000 people.
On September 20th, a US-China agreement regarding TikTok's US operations was announced. The agreement stipulates that ByteDance will select one of seven board members for a new entity controlling TikTok's US operations, while Americans will hold the remaining six seats. This agreement is part of a broader deal to spin off TikTok from ByteDance, resulting in majority ownership and control by Americans. The US will also control the algorithm, data, and privacy aspects of the US version of the app, with Oracle leading these areas. This action follows a 2024 Congressional law mandating the shutdown of TikTok by January 2025 unless ByteDance sold its US assets.
Subscribe for full access to ByteDance's products in full detail
Subscribe for full access to ByteDance's revenue in full detail
Subscribe for full access to ByteDance's products in full detail 
