Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Trending in China: Did Sichuan Forget to Tell Chongqing About Their Joint Olympic Bid?
Alibaba’s Healthcare Unit Finds Tonic for Profits
Trending in China: Beijing Tackles Parking Shortage With Shared Spaces
Chinese Wireless Telecoms Operators Join Forces to Build 5G Base Stations to Reduce Costs
Ruhnn, Another U.S.-Listed Chinese Company Looks to Go Private
Unicorns surge to 500 in number as US and China account for 70%
Trending in China: Social Media Comes Out in Support of High Quality Fakes
Xiaomi-Backed IoT-Enabled Appliance Maker Sees Revenues Grow While Profits Slump
Chinese Startup WeRide Reports Promising Robotaxi Results
Trending in China: God recalls his hand – tributes to Maradona from Chinese social media after his death
Tesla to Manufacture Electric Car Chargers in China
China Restricts Livestreaming Spending and Blocks Underage Users from Tipping Performers
TikTok Granted One-Week Extension of Forced-Sale Deadline
Chinese Online Language Educator 51Talk Speaks the Language of Profit
Trending in China: Are Elderly ‘Collateral Damage’ in Increasing Technological Cashless World?
Trending in China: Black and White ‘Little Miracle’ Born to 22-Year-Old Panda in Washington
Facing U.S. Sanctions, Huawei May See Global Smartphone Share Slump to 4% in 2021
Chinese LGBTQ Dating App Owner BlueCity Acquires Youth-Focused Gay Platform Finka
Xiaomi-Backed Smart Wearables Maker Huami Sees Profits Slump Despite Revenue Growth
Baidu Maps Illegally Using Other Chinese Firm’s Mapping Info, Court Finds.
ByteDance Seeks New Investment Opportunities Amid Global TikTok Pushbacks

By Ding Yi / Jul 23, 2020 05:17 PM / Business & Tech

Photo: VCG

Photo: VCG

Fast-rising Chinese tech company ByteDance is seeking more investment opportunities as some foreign governments make life for its primary money-making app TikTok increasingly difficult due to data security concerns.

The Beijing-based company has given its vice president of product and strategy, Alex Zhu, the task of finding promising tech firms that ByteDance could buy into, CNBC reported Wednesday, citing a ByteDance spokesperson.

So far, ByteDance has invested in 21 companies and acquired seven firms, with the most recent acquisition taking place in May, when ByteDance purchased medical knowledge platform in its foray into the field of online health content, according to corporate data provider Crunchbase.

In addition to making investments in external firms, ByteDance, which has grown from a humble news aggregation app to the world’s most valuable startup, is also exploring opportunities to start new businesses, among which education could be a key priority.

In a recent internal speech, ByteDance senior vice president Chen Lin announced plans to pour “a huge amount” of capital into its newly-established education business in the next three years regardless of possible losses and the nearly saturated market dominated by bigger rivals like VIPKid and Yuanfudao, according to a transcript published on the company’s public WeChat account Wednesday.

ByteDance is a late entrant to the sector, operating one-on-one English tutoring app GoGoKid and online course livestreaming app Qingbei.

Chen’s remarks come amid a boom in China’s online education sector that took off during the coronavirus-induced lockdowns when students were told to continue their studies through online learning platforms.

Contact reporter Ding Yi (

Related: TikTok Leaving ByteDance Is ‘Better Solution Than Banning’, White House Adviser Says

Share this article
Open WeChat and scan the QR code