ByteDance CEO urges TikTok diversification

BEIJING: The founder and CEO of TikTok proprietor ByteDance will concentrate on including customers of the favored video app in nations exterior of its strongest markets, in keeping with an inner employees notice seen by Reuters, because it faces political stress in the USA.

The notice from Zhang Yiming setting out firm objectives for November and December comes after lawmakers within the U.S. not too long ago voiced issues about assortment of consumer knowledge and whether or not China censors content material seen by U.S. customers.

“Proceed to diversify TikTok’s development,” mentioned the notice, which was written in each English and Mandarin Chinese language. “Improve funding in weaker markets,” Zhang added.

The video app is particularly well-liked with U.S. youngsters and younger adults, drawing scrutiny at a time of rising tensions between Washington and Beijing.

Zhang didn’t point out the stress within the U.S. however urged the agency to reinforce its capabilities in “dealing with world public affairs” and strengthening consumer knowledge safety.

The Committee on Overseas Funding in the USA has began to evaluate ByteDance’s $1 billion acquisition of the U.S. app Musical.ly, which was subsequently merged into TikTok, Reuters reported this month.

ByteDance didn’t instantly reply to a request for remark. The corporate has mentioned the Chinese language authorities doesn’t have any jurisdiction over TikTok content material.

Launched simply two years in the past, TikTok has been downloaded 1.5 billion instances, making it the third most downloaded non-gaming app of the yr, after of Fb’s (FB.O) WhatsApp and Messenger apps, in keeping with analysis agency SensorTower.

TikTok has confronted regulatory challenges in India and Indonesia, the place it’s also a giant hit. India momentary banned downloads of the app in April this yr and Indonesia did the identical final yr, largely on account of issues about salacious content material.

SensorTower mentioned that India is the primary driver for TikTok’s new downloads this yr, and the app can also be well-liked in Britain, France, Japan, Australia and Canada, in keeping with App Annie.

In his temporary notice, Zhang additionally made point out of the corporate’s different apps, such because the Chinese language model of TikTok, Douyin, and Chinese language information aggregator Jinri Toutiao. Each Douyin and Toutiao generate income from promoting, competing with China’s tech giants Tencent Holdings (0700.HK) and Baidu Inc (BIDU.O)

He mentioned the aim for Toutiao, one in all ByteDance’s main sources of income, was to reinforce its “monetization effectivity” and urged staffers to “proceed to place our foot to the ground” for Douyin to widen the app’s benefit over its rivals.

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