ByteDance CEO Zhang Yiming told employees to keep an ‘ordinary mind’ and make decisions without worrying about growth goals as the company moves closer to an IPO. ByteDance’s valuation has surpassed that of Coca-Cola as it searches for new areas of growth, including gaming and education, while challenges overseas continue. — SCMP
Employees at Chinese tech giant ByteDance, the owner of TikTok, should keep an “ordinary mind” and executives should avoid thinking of the tech firm as a “large company”, founder and CEO Zhang Yiming said in an internal speech on Tuesday, even as the company’s value has reportedly surpassed the market capitalisation of Coca-Cola and rumours swirl about an upcoming initial public offering.
“If we position ourselves as a giant company, [we will spend time] thinking about how big companies should hold annual parties and make grand strategies,” Zhang said during a livestreamed address to employees that marked the ninth anniversary of the online entertainment startup. ByteDance publicly released excerpts from the speech a day later.
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