Exclusive: Instacart, Databricks, Arm Could Lead the IPO Market Out of Its FreezeRead Now

ByteDance headquarters in Beijing. Photo by AP; illustration by Mike Sullivan

Beijing Tightens Grip on ByteDance by Quietly Taking Stake, China Board Seat

Photo: ByteDance headquarters in Beijing. Photo by AP; illustration by Mike Sullivan

For months, China has sought to bring its bustling internet sector to heel with an intensifying series of antitrust crackdowns and data security probes. In one example that hasn’t been previously reported, the Chinese government in April quietly took a stake and a board seat in TikTok owner ByteDance’s key Chinese entity, according to corporate records and people with knowledge of the matter.

The move gives Beijing more insight into the inner workings of ByteDance, the world’s most valuable privately held tech company, which owns some of the most popular apps in China, such as Douyin and Toutiao, along with TikTok. The government’s right to one seat on a three-person board of directors at Beijing ByteDance Technology Co. Ltd., which holds Chinese business licenses related to Douyin and Toutiao, raises questions about how much more influence Beijing can exert over ByteDance as a whole.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing amazon facebook
Europe’s Latest Attacks on Meta and Amazon Make No Sense
Photo by Getty Images
Whose side are Europe’s antitrust regulators on? Obviously not consumers’. Today’s European Commission settlement with Amazon, which includes provisions that could erode the efficiency of the company’s Prime service, follows in the footsteps of the case the agency outlined against Meta Platforms’ Facebook Marketplace on Monday. In that case, European antitrust bureaucrats seem determined to...
Latest Briefs
 
Musk: Twitter Could Break Even Next Year
Musk Says He’ll Resign as Twitter CEO When He Finds Replacement
Sam Bankman-Fried Signs Extradition Papers, Will Be Flown to U.S.
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Microsoft Headquarters in Redmond, Wash. Photo by Getty.
Exclusive enterprise
Microsoft Squeezed by Growing Resistance to Software Bundles
It’s been a popular sales tactic at Microsoft for several years now: Approach a corporate customer paying for Microsoft’s popular 365 workplace apps and suggest they sign up for an all-in-one software bundle that also includes cybersecurity and compliance tools, along with a suite of other business apps.
Chris Britt, CEO of Chime. Photo by Getty Images.
Exclusive startups
Chime Made Two Offers to Buy DailyPay, Topping Out at $2 Billion, but Was Spurned
Chime spent much of this year trying to buy paycheck-advance startup DailyPay, but both of its offers–including a $2 billion bid–were rejected, according to people with direct knowledge of the deal talks.
From left: David Sacks, Roelof Botha and Sam Bankman-Fried. Photos by Getty; Sequoia; Bloomberg. Art by Mike Sullivan.
startups venture capital
‘Moment of Panic’: FTX Collapse Deepens Fear in Silicon Valley
A month after the sudden collapse of crypto exchange FTX, Silicon Valley startup founders and venture capitalists are grappling with a new feeling: panic.
Illustration by Jesus Escudero
Opinion startups venture capital
Welcome to the Age of the Fit Startup
In 2011, Eric Ries took a two-word concept—the “ lean startup ”—and turned it into a manifesto, a guidebook for a burgeoning class of entrepreneurs empowered by the new proliferation of seed investors.
Art by Clark Miller.
Market Research culture
‘This Is the Best. I’ve Tried Everything’: Tech Execs on the Ski Gear They Won’t Go Downhill Without
For tech’s skiers and snowboarders, it’s the most wonderful time of the year—and also the most decision-packed.
Midjourney art by Clark Miller
The AI Age ai
ChatGPT Is on Fire, and a Cottage Industry of Bot Builders Is Exploding Alongside It
Joshua Browder wakes up most mornings wanting to empower the little guy. The entrepreneur, who has been deemed the “Robin Hood of the internet,” has helped people annul marriages, get out of parking tickets and file lawsuits against failed crypto platforms through DoNotPay, his robo lawyer startup.
Cookies on The Information
We use cookies for a number of reasons, such as keeping The Information reliable and secure, personalizing content and ads, providing social media features and to analyze how our sites are used.