You might not have heard of ByteDance, however you likely know its own classical video app TikTok, which gobbled up Musical.ly in August. The Beijing-based firm also conducts a favorite news aggregator named Jinri Toutiao, so”the current headlines” from Chinese, along with the app only assigned a new CEO.
In a business event on Saturday, Chen Lin, an early ByteDance worker, made his initial appearance since Toutiao’s new CEO. Meaning Toutiao‘s founder Zhang Yiming has given the helm to Chen, who formerly headed product direction for the information app.
Zhang is not going everywhere. A company spokesperson told TechCrunch he stays the CEO of ByteDance, which functions a ton of media apps besides TikTok and Toutiao to lock horns with China’s tech giants Baidu, Alibaba, and Tencent.
The narrative of ByteDance began when Zhang established Toutiao in 2012. The information app collects videos and articles from third party suppliers and utilizes AI algorithms to customize content for consumers. Toutiao flew off the shelves and went on to incubate new networking products, such as a Quora-like Q&A platform and TikTok, called Douyin at China.
The handover may indicate a need for Zhang to resign from daily surgeries in his brainchild and oversee plans for ByteDance, which has swollen into the planet’s highest-valued startup. The organization spokesperson didn’t offer additional details about the reshuffle.
Toutiao itself is set up on over 240 million monthly special devices, making it a leading news aggregator in China, based on data analytics company iResearch. TikTok and Douyin jointly control 500 million monthly active users across the planet, while Musical.ly includes a userbase of 100 million, the company formerly declared.
Toutiao’s victory has prompted Tencent, which is famous for producing WeChat and controlling a massive piece of China’s gaming marketplace, to construct its AI-powered news app. Toutiao’s fledgling marketing firm has also stepped on the feet of Baidu, making the majority of its earnings from search ads. More lately, Toutiao muscled in on Alibaba’s land with an e-commerce attribute.
In the Saturday event, Chen also shared upgrades that suggestion in Toutiao’s rising ambition. For starters, the information goliath is employed to assist content suppliers money in via a package of resources, for example, e-commerce earnings and virtual presents from streaming. The movement is poised to assist Toutiao to keep quality founders as the race to catch digital eyeball time intensifies in China.
Toutiao also recently introduced its initial wave of”miniature apps,” or even stripped-down variations of native apps that function inside super apps like Toutiao. Tencent has shown the system for a large traffic motorist following WeChat miniature apps spanned 2 million users.
Last, Toutiao stated it’ll take more proactive steps to track what users have. Recently, the information app has run afoul of press authorities who slashed it to get hosting prohibited and “inappropriate” content. Douyin has confronted similar criticisms. Even though ByteDance prides itself automated distribution, the business has shown a willingness to comply with government rules by employing tens of thousands of human censors and utilizing AI to filter articles.