Bloomberg Markets and Finance published this video item, entitled “TikTok Rival Kuaishou Falls; ByteDance Lays Off Hundreds” – below is their description.
Aug.05 — TikTok rival Kuaishou Technology fell the most on record after a post-listing lockup on sales of its shares expired. Meanwhile, TikTok-owner ByteDance Ltd. has laid off hundreds of employees. Stephen Engle reports on “Bloomberg Daybreak: Asia.”Bloomberg Markets and Finance YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
In This Story: TikTok
TikTok, known in China as Douyin, is a Chinese video-sharing social networking service owned by ByteDance, a Beijing-based Internet technology company founded in 2012 by Zhang Yiming. It is used to create short music, lip-sync, dance, comedy and talent videos of 3 to 15 seconds, and short looping videos of 3 to 60 seconds.
ByteDance first launched Douyin for the Chinese market in September 2016. Later, TikTok was launched in 2017 for iOS and Android in most markets outside of mainland China; however, it only became available worldwide, including the United States, after merging with another Chinese social media service Musical.ly on 2 August 2018.
3 Recent Items: TikTok
Mahaney Not Worried About Departure of Facebook’s CTO
“MARTIAL IS NOT A MAN UTD PLAYER!” Man Utd fan Nessy wants the French forward to leave the club!
“ARSENAL MIGHT TURN US OVER!” 😮 Spurs fan GJ isn’t confident ahead of the North London Derby!