The founder of China’s ByteDance, CEO of the wildly successful TikTok application, has for years aspired to make ByteDance the first Chinese agency to contest U.S. internet titans on the global stage. On Thursday, Zhang Yiming made a crucial move to achieve that.
Generating new leadership positions for ByteDance’s China business, Zhang stated in a letter to employees he would now concentrate on global growth and fresh initiatives such as education.
In a recent interview, Zhang spoke expansively of his vision of ByteDance as a fully global firm in the image of Facebook and Google, even as it faces a national security evaluation by the U.S. government over TikTok’s data practices.
Several U.S. government companies have banned employees from utilizing TikTok over data security worries.
TikTok has taken the social media community by storm, especially in the U.S., vaulting ByteDance to the worth that sources said is near $100 billion in the secondary market.
As early as 2013, when the corporation was merely 12 months old and barely made any income, Zhang began planning its global expansion, based on Joan Wang, an early investor in ByteDance and managing director of SIG China.
Zhang informed Wang over numerous meetings and phone calls he believed his AI-based algorithms used in its Chinese-language news aggregator Jinri Toutiao, might be expanded to different languages and content formats.