In 2018, ByteDance launched "Helo", an app to " bring people together, create and share content in their own language, and to connect with wider community". The announcement stated that the company has decided to " focus energy and resources on other businesses".
On June 15, 2020, both apps announced on their websites that they would be shut down on October 31, 2020. The app became so popular in India that it had over a million monthly active users in May 2020. A lite version of the app was then released under the name " Vigo Lite". In July 2017, ByteDance launched Vigo Video, an app that lets users upload 15-second videos. In September 2018, it became the most downloaded app in the United States. It was first released in markets globally. In September 2017, ByteDance acquired Musical.ly for $1 billion to merge with Flipagram into one app, which became known as TikTok. A.me was then renamed to " Douyin" in December. However, because of its early success, it received significantly more investment than its competitors, more than $1 billion from prominent investors such as Sequoia Capital. ByteDance followed Toutiao with an app called " A.me" in September 2016, to face competition from Kuaishou, a fellow startup that went on to raise funds from Tencent Holdings in 2017. Huoshan, launched in April 2016 by the Jinri Toutiao team, was ByteDance's first experiment with short videos.
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ByteDance had decided to shut down the app because they "struggled to crack the overseas news app market" to " replicate the broad success of TikTok" and failed to attract an " international audience in five years of operation.". According to the website, The app has " 36 million monthly active users worldwide" and "200,000 publishers and creators". TopBuzz was launched as an international version of Jinri Toutiao in 2015. China had previously banned video spoofs and parodies in a March directive, a lot of which appeared on Duanzi.
Zhang Yiming issued an apology letter soon for " publishing a product that collided with core socialist values". The app became so controversial for its " misleading and vulgar content" that it led China’s media regulator to tell ByteDance to close down the app on April 10, 2018. In March 2012, ByteDance launched Neihan Duanzi (内涵段子, meaning: "subtle jokes") as a platform for " jokes, memes, and humorous videos". The company is also expected to go public in the near future. ByteDance also intends to strengthen its position in areas such as e-commerce and gaming. ByteDance intends to hire 40,000 employees in 2020 in order to match Alibaba's headcount. ĭuring COVID-19 pandemic, and while many companies are busy reducing their workforce, ByteDance announced in April 2020 that it is hiring staff to fill 10,000 vacant positions across multiple domains. In 2018, the State Administration of Press, Publication, Radio, Film, and Television (SAPPRFT) demanded that a "vulgar" account be removed from the service. Toutiao currently works with over 20,000 traditional media outlets, which account for 10% of its feed, and 800,000 new media content creators. They rented an apartment in Zhongguancun to develop a Chinese news app, and it became known as Jinri Toutiao. Yiming wanted to create platforms " whose results were powered by artificial intelligence".
In 2011, when the sales of smartphones in China became popular, Zhang noticed there were not many people reading newspapers on subways and he thought that " smartphones would replace newspapers to become the most important medium of information distribution". In 2009, entrepreneur Zhang Yiming collaborated with his friend Liang Rubo to develop a real-estate search engine,.
Toutiao is the first successful app that ByteDance had developed. ByteDance is also backed by some of venture capital's biggest names, including SoftBank and Sequoia Capital. By November 2018, it had been installed in over 240 million unique devices, according to iResearch. One of its early products, the AI-powered Toutiao a.k.a Jinri Toutiao, is one of China's most popular news aggregators. Īccording to the company's website, ByteDance is " one of the first companies to launch mobile-first products powered by machine learning technology" with Zhang seeing an opportunity to "combine the power of artificial intelligence with the growth of mobile internet to revolutionize the way people consume and receive information." TikTok, Helo (an Indian social media app), Vigo Video Douyin, BytePlus, and Huoshan. The majority of the company's products are social media applications. The company operates on a variety of platforms that enable people to create, discover, and connect across languages, cultures, and geographies. Ltd ( Chinese: 字节跳动 pinyin: Zìjié Tiàodòng) is a global technology company headquartered in Beijing, China, founded in March 2012 by Zhang Yiming.
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