TikTok owner ByteDance reorganises strategic investment team


FILE PHOTO: The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration

BEIJING (Reuters) -ByteDance, the owner of short video app TikTok, announced on Wednesday that it was overhauling its strategic investment team after its business analysis earlier this month highlighted investments with "low synergies".

ByteDance will disband its group-level strategic investment team and move employees to the six business units, including TikTok and its Chinese version Douyin, that it created in October in a major organisational reshuffle.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Britannica didn’t just survive. It’s an AI company now
'Who's next?': Misinformation and online threats after US CEO slaying
What is (or was) 'perks culture’?
South Korean team develops ‘Iron Man’ robot that helps paraplegics walk
TikTok's rise from fun app to US security concern
Musk, president? Trump says 'not happening'
Jeff Bezos says most people should take more risks. Here’s the science that proves he’s right
Bluesky finds with growth comes growing pains – and bots
How tech created a ‘recipe for loneliness’
How data shared in the cloud is aiding snow removal

Others Also Read