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ByteDance eyes China s $1 7 trillion e-commerce sector | Business and Economy News

Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba. The 38-year-old AI coding genius, searching for ByteDance’s next big act, has set his sights on China’s $1.7 trillion e-commerce arena. The co-founder has hired thousands of staff and roped in big-name sponsors like Xiaomi Corp. impresario Lei Jun to drive what he calls his next “major breakthrough” into global business selling stuff to consumers via its addictive short videos and livestreams. That endeavor will test not just Zhang’s magic touch with app creation and ByteDance’s AI wizardry, but also investor reception ahead of one of the tech world’s most hotly anticipated IPOs.

Hong kongZhou huangLei junBob kangLuo yonghaoJack maMichael norrisShawn yangTencent wechatAlibaba taobaoZhang yimingBytedance ltdBaidu incShopify incXiaomi corpHome shopping network

ByteDance hires thousands in bid to challenge e-commerce king Alibaba

May 9, 2021 Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba. The 38-year-old AI coding genius, searching for ByteDance’s next big act, has set his sights on China’s $1.7 trillion e-commerce arena. The co-founder has hired thousands of staff and roped in big-name sponsors like Xiaomi Corp. impresario Lei Jun to drive what he calls his next “major breakthrough” into global business selling stuff to consumers via its addictive short videos and livestreams. That endeavor will test not just Zhang’s magic touch with app creation and ByteDance’s AI wizardry, but also investor reception ahead of one of the tech world’s most hotly anticipated IPOs.

Zhou huangLei junBob kangLuo yonghaoJack maMichael norrisShawn yangTencent wechatAlibaba taobaoZhang yimingBytedance ltdBaidu incShopify incXiaomi corpHome shopping networkPinduoduo inc

China s e-commerce shake-up: TikTok sister app Douyin woos merchants in direct assault on Alibaba, Pinduoduo

China s e-commerce shake-up: TikTok sister app Douyin woos merchants in direct assault on Alibaba, Pinduoduo
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The rise and fall of Clubhouse in China: how the popular app came and went in just a few days

Jacy Cao, 25, a media professional working in Shanghai, spent four hours on Clubhouse the first time she logged on, immediately drawn into the freewheeling discussions ranging from technology to politics. However, on Monday night all mainland Chinese users of the audio chat app were blocked, with attempts to log on getting a message that read: “SSL error has occurred and a security connection to the server cannot be made”. On the app itself – which could still be accessed using a VPN – Chinese language discussions around the topic “Clubhouse got GFW‘d”, a reference to the euphemism for the government’s internet control mechanisms, mushroomed.

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Smartisan founder s dream of beating Apple dies as ByteDance suspends smartphone business

ByteDance’s move has ended the dream of entrepreneur Luo Yonghao, who founded Android smartphone maker Smartisan Technology in 2012, to surpass Apple’s innovation in smartphones and other devices. SCMP ByteDance, owner of short video-sharing apps TikTok and Douyin, has suspended development of smartphones under the Smartisan brand to refocus on its Dali line of hardware products for the education sector. New Stone Lab, the hardware project team that leads research and development at Smartisan, will be folded into the group behind ByteDance’s Dali smart lamp to create new education hardware products, according to a spokeswoman for the Beijing-based company.

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