Kelly Zhang

ByteDance profit jumps 60% to US$40 billion, taking TikTok’s owner past arch-rival Tencent

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ByteDance profit jumps 60% to US billion, taking TikTok’s owner past arch-rival Tencent

ByteDance’s profit surged roughly 60 per cent in 2023, outpacing the growth of online peers Tencent Holdings and Alibaba Group Holding, in a sign of the TikTok owner’s resilience in the face of an economic downturn. Earnings before interest, tax, depreciation and amortisation jumped to more than US$40 billion from about US$25 billion in 2022, … Read more

Exclusive | AI takes priority at TikTok owner ByteDance, as Sora disrupts the future of video creation

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Exclusive | AI takes priority at TikTok owner ByteDance, as Sora disrupts the future of video creation

ByteDance is “secretly” working on multiple AI products, including text-to-image and text-to-video technology, according to a report on Wednesday by Chinese media outlet Jiemian. The team responsible for video-editing app CapCut, managed by Kelly Zhang Nan – former CEO of the Douyin unit, which oversees TikTok’s Chinese version – is also working confidentially on AI … Read more