TikTok owner ByteDance is shutting down the team that works on strategic and financial investments in other companies. A ByteDance spokesperson described the move as part of a broader reorganization and said the decision to disband the dedicated deals team doesn’t mean the Chinese internet giant won’t invest in other companies in the future. By the end of March, the team’s members will either...
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How Instagram’s TikTok Envy Finally Backfired
Last month, Kim Kardashian, Kylie Jenner and other influencers stirred up a public relations firestorm for Instagram, complaining to their hundreds of millions of followers about the app's recent attempts to mimic TikTok. Those efforts were just part of a broader internal effort to take on the Chinese short-form video app, though. The Information has learned that recent tests of changes to...
China’s Economy Slows Amid Soaring Youth Unemployment
China’s Tech Giants Alibaba and ByteDance Share Algorithms With Government
Peloton Announces Job Cuts, Store Closures and Price Hikes
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