ByteDance is a Chinese internet technology company headquartered in Haidian, Beijing. Its associated variable-interest entity ByteDance Ltd is incorporated in the Cayman Islands.[6]
Founded by Zhang Yiming, Liang Rubo, and a team of others in 2012, ByteDance developed the video-sharing app TikTok/Douyin. The company is also the developer of the news platform Toutiao, the video-editing app CapCut, and Lemon8 which is a video sharing mobile app. Furthermore, the company develops generative AI models both for the Chinese and international markets.[7]
ByteDance has attracted regulatory and media attention in several countries over security, surveillance, and censorship concerns.[8][9][10]
History
In 2009, software engineer and entrepreneur Zhang Yiming collaborated with his friend Liang Rubo to co-found 99fang.com, a real estate search engine.[11] In early 2012, the pair rented an apartment in Zhongguancun and, along with several other 99fang employees, began developing an app that would use big data algorithms to classify news according to users' preferences, which would later become Toutiao.[12] That March, Yiming and Liang founded ByteDance.[13]
Launch of first apps
In March 2012, ByteDance launched its first app, called Neihan Duanzi (内涵段子, lit. "profound gags"). This allowed users to circulate jokes, memes, and humorous videos. Before being forced by the Chinese government to shut down in 2018, Neihan Duanzi had over 200 million users.[14]
Corporate affairs
Funding and ownership
ByteDance is backed financially by Jeff Yass's Susquehanna International Group, Primavera Capital Group, Kohlberg Kravis Roberts, SoftBank Group, Sequoia Capital, General Atlantic, and Hillhouse Capital Group.[37][38][39] As of November 2024, it was estimated to be valued at $300 billion.[40]
ByteDance's owners include investors outside of China (60%), its founders and Chinese investors (20%), and employees (20%).
Products
CapCut
First released to the public in April 2020, CapCut is a video editing software made for beginners.[77] As of March 2023, CapCut has more than 200 million active users each month, and according to The Wall Street Journal, it was downloaded more than the TikTok app in March 2023.[78] In March 2023, it was the second-most downloaded app in the U.S. behind that for Chinese discount retailer, Temu.[79]
Doubao
Douyin
First released to the public in September 2016, Douyin, previously named A.me, is the Chinese version of TikTok.
Censorship, surveillance, and data privacy concerns
ByteDance has garnered attention over surveillance,[127][128] data privacy,[129] and censorship concerns,[130][131] including content pertaining to human rights in Tibet and the persecution of Uyghurs in China. Concern has also been raised over the potential effects, including extraterritorial jurisdiction, of China's National Intelligence Law and Cybersecurity Law on ByteDance and its employees.[137][56]
Government regulation
China
In April 2018, China's state media regulator, the National Radio and Television Administration (NRTA), ordered the temporary removal of Toutiao and Neihan Duanzi from Chinese app stores. The NRTA accused Neihan Duanzi in particular of hosting "vulgar" and "improper" content and "triggering strong sentiments of resentment among internet users".[141] The following day, Neihan Duanzi announced it was permanently shutting down.[141] In response to the shutdown, Yiming issued a letter stating that the app was "incommensurate with socialist core values" and promised that ByteDance would "further deepen cooperation" with the authorities to promote their policies.[142][143] Following the shutdown, ByteDance announced that it would give preference to Chinese Communist Party members in its hiring and increase its censors from 6,000 to 10,000 employees.[144]
Sources
External links
References
- Ben Jiang. TikTok owner ByteDance's overseas sales jump in 2024 despite US hurdles: report South China Morning Post, 11 April 2025^
- Dan Clark. Microsoft In-House Attorney to Serve as TikTok's First Global General Counsel Corporate Counsel, 24 January 2020, retrieved 5 October 2020^
- Miriam Jimenez. ByteDance names China CEO, chairman; launches music app in Indonesia