Chinese search provider Baidu is in talks with investors to raise as much as $2 billion for a biotechnology venture it plans to back, Reuters reported. Baidu founder Robin Li has been involved in the project, but the company is unlikely to own a controlling stake in the venture, Reuters said. Instead, Baidu is trying to find other investors to help fund the business. The venture, whose name...
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TikTok CEO Expands Purview to Include ByteDance’s New App Lemon8
The Singapore-based CEO of TikTok, Shou Zi Chew, is getting a bigger job. TikTok’s Chinese parent company, ByteDance, is putting its newer social media app, Lemon8, under Chew’s supervision, according to a person with direct knowledge of the matter. The move appears to reflect ByteDance’s strategy of locating the heads of its global apps outside China, in an effort to defend...
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