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ByteDance to Disband Strategic Investment Team – Nikkei

A senior executive said the company does not intend to halt investments but will instead handle them through its existing divisions


TikTok
ByteDance-owned TikTok supports tips, which let fans send creators money. Photo: Reuters

 

ByteDance, owner of TikTok and Chinese sister app Douyin, is disbanding its strategic investments team amid heightened scrutiny in Beijing of deal-making by the country’s major internet groups.

A senior executive told Nikkei Asia that ByteDance does not intend to halt investments in other companies, but will instead handle them through its existing divisions and concentrate on deals related to its current business focuses.

Read the full report: Nikkei Asia.

 

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ByteDance To Reorganise In Six Units, CFO Will Run TikTok

 

Beijing Owns Stakes in ByteDance, Weibo Domestic Entities

 

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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