TikTok owner ByteDance renames some subsidiaries

TikTok owner ByteDance renames some subsidiaries

 

 

TikTok owner ByteDance has renamed some subsidiaries including one in Hong Kong and two in Beijing as “Douyin,” the name of the Chinese version of the popular short-video app TikTok.

 

Established in 2012, ByteDance (Hong Kong) Limited was renamed as Douyin Group (Hong Kong) Limited, which took effect on May 6, according to information on the Companies Registry of Hong Kong.

 

Beijing ByteDance Technology Limited, founded in 2012; was renamed as Beijing Douyin Information Service Limited, according to China’s National Enterprise Credit Information Publicity System.

 

ByteDance Limited, established in 2016, became Douyin Limited this month, according to Tianyancha, a platform that tracks local business registrations.

ALSO READ: TikTok owner ByteDance scraped content from Instagram, others to push predecessor app

 

Douyin’s daily active users in China grew to over 600 million last year.

 

Douyin, together with Toutiao, contributed most of ByteDance’s domestic revenue.

 

ByteDance last month appointed veteran capital markets attorney Julie Gao; who has advised many Chinese technology companies on public listings, as new chief financial officer.

 

Kuaishou, Douyin’s primary domestic rival, was listed in Hong Kong in February last year.

About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

Related posts

Leave a Reply

Your email address will not be published.