Recently, Bytedance has been making headlines due to a series of significant events. Firstly, the Chinese multinational internet technology company has been selling a portion of its stake in IReader, marking the third time it has reduced its holdings. Additionally, Bytedance's social media platform, TikTok, has been facing legal challenges. It filed a lawsuit against the state of Montana over its ban on the video-sharing app, and there have been discussions in the US about potentially banning TikTok altogether due to national security concerns.
Bytedance, founded by Zhang Yiming in 2012, is headquartered in Beijing, China. The company has gained immense popularity and success, with reports suggesting it is worth over US$100 billion as of May 2020. Bytedance is known for its flagship app, TikTok, which allows users to create and share short videos. The app has gained a massive global user base and has become a cultural phenomenon, particularly among younger generations.
Beyond TikTok, Bytedance has also ventured into other areas of technology, such as artificial intelligence and content creation. The company has been investing in AI talent and developing large language models and applications. Bytedance's success and influence have not been without controversy, as it has faced scrutiny over data privacy concerns and allegations of spreading propaganda. Nonetheless, Bytedance continues to be a prominent player in the tech industry, shaping the landscape of social media and digital content consumption.
-
ByteDance is selling a portion of its stake in IReader, reducing its holdings for the third time.
-
Amazon launches Q, a business chatbot powered by generative AI, to compete with OpenAI's ChatGPT.
-
A federal judge blocks Montana's ban on TikTok, citing violation of free speech rights and overstepping state power.
-
The social media giant is cutting hundreds of jobs at its flagship Nuverse studio, and will shut down development on most unlaunched titles a year after cuts at two related studios.
-
Amazon is cutting jobs in its Alexa unit as it shifts focus to generative AI.
-
UK ministers are calling on streaming giants and video-sharing platforms to ensure that British-made children's programming is widely available.
-
Chinese tech companies are experiencing a surge in job demand for AI talent as they compete to launch large language models and applications.
-
European regulators have fined TikTok $368 million for breaching children's privacy.
-
Multiple novels, including those by Elizabeth Gilbert, face criticism and delays in publication due to negative reviews on Goodreads.
-
TikTok's COO resigns and former Disney executive is hired as chief brand and communications officer.
-
US tech giants restrict access to AI chatbots in Hong Kong
-
TikTok sues Montana over its ban on the video-sharing app
-
TikTok has filed a lawsuit against Montana's ban on the video sharing app.
-
Former executive alleges Chinese Communist Party had access to TikTok data and ByteDance engaged in spreading propaganda
-
The state house voted 54-43 to pass the bill, which goes further than prohibitions in place in nearly half the states and the US federal government that prohibit TikTok on government devices.
-
US lawmakers are considering banning TikTok over national security concerns
-
ByteDance launches new app Lemon8
-
The ban will come into effect as soon as practicable, Attorney-General Mark Dreyfus said in a statement, adding that exemptions would only be granted on a case-by-case basis and with appropriate security measures in place.
-
TikTok's CEO testified in Congress last week, and the company is facing the possibility of a nationwide ban if it defies a government order to sell to an American company.
-
TikTok CEO Shou Zi Chew defends the company's relationship with China and protections for its youngest users in a congressional hearing amid a bipartisan push to ban the app entirely in the US over national security concerns.