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Bytedance IPO and Xiaomi IPO
As the world’s fascination with the ByteDance IPO intensifies, speculation has also grown about the IPO of the Xiaomi Group subsidiary. In a recent personnel appointment, Bytedance’s founder Zhang Yiming hired Xiaomi Group partner Zhou Shouzi as CFO, a senior vice president of the international department. The resignation of Gao Fushuai, Bytedance’s previous CFO, who was “airborned” to Xiaomi in 2015, was also announced. Zhang Yiming also declared the base of his company in Singapore. With the IPO of Bytedance, the world’s understanding of this new EV subsidiary has grown tremendously.
ByteDance vs Xiaomi
The ByteDance vs Xiaomi feud has heated up in the past few days as two tech giants battle it out in China. Both companies are based in China, but ByteDance is more localized than either. Read also : How Do You Save a TikTok Video?. Its middle office is in Beijing and it relies on local talent more than the Chinese headquarters. The company has teams of people who are responsible for local growth strategies in a few different countries.
The Chinese are more collective and less egotistical. The company paid attention to the management of its overseas staff, and their all-hands meetings were often postponed, unlike their counterparts in the U.S. Moreover, ByteDance had internal communication staff in each region and they were required to tailor their answers to each culture. The addition of Zhang Yiming to the team made ByteDance more compatible and diverse.
ByteDance vs EV subsidiary
Several companies in China have invested in electric vehicles. ByteDance is one such company. Its parent company, Didi Chuxing, is one of the largest ride-hailing companies in the world. On the same subject : What Time Is TikTok Vs YouTube Boxing?. Based in Beijing, the company offers services similar to Uber. By late 2010, it started investing in EVs. Today, the company has partnered with Chinese automakers like BYD, Ford, and Renault to launch the EVs.
ByteDance has already set up a team for its Internet of Vehicles business. It plans to roll out automotive infotainment solutions to further boost its mobile internet offerings. The team has a number of outside recruits and a large part of its employees comes from the Smartisan team. The company has also had multiple exchanges with Leading Ideal about its plans for the automobile industry.
ByteDance’s valuation surpasses Exxon Mobil
ByteDance’s latest funding round valued the company at $140 billion, and Bloomberg reported that its value may rise to $200 billion in a public listing. The company recently split its Chinese business, and is now weighing the potential for an IPO. To see also : What is the App on TikTok That Makes Pictures Move?. The founder, Yimin Zhang, has been very active in the Chinese stock market, and has said that he’s considering a public offering.
ByteDance has recently acquired a music startup and merged with Douyin to launch a music video app known as TikTok. The company also owns BuzzVideo and Vigo Video, two of the largest video-sharing platforms. In November 2018, ByteDance had 800 million daily active users, and about 1 billion users cumulatively across all platforms. The company’s IPO could bring the company to the public, but only after it’s listed on at least one exchange.
Xiaomi Group’s shipments rank among the top three in the European market
After entering the European market late last year, Xiaomi has continued its rapid expansion. In the first quarter of 2021, Xiaomi ranked No. 2 in the smartphone market in Spain and rose to No. 1 in Italy for the fifth consecutive quarter. In France and Italy, Xiaomi ranked No. 1, taking the lead over Samsung and Apple. In India, Xiaomi’s shipments increased by 89.3 percent and it ranked No. 1 for the first time in Russia.
In the second quarter of 2020, Xiaomi’s smartphone shipments grew by 64.9% YoY, accounting for a total market share of 16.8% in Europe. Xiaomi’s smartphone shipments in Western Europe grew by 115.9% YoY, representing 12.4% of the market. In Spain, Xiaomi ranks first for two consecutive quarters, with a share of 36.8%. In France, the company ranked second, followed by Germany, Italy, and Austria.
Zhou Shouzi’s investment vision is unique
While many investors are tempted to copy a company’s investment model, Zhou Shouzi’s investment vision is not common. Unlike most investors, he is a Chinese national with no American experience. However, he is not responsible for bringing ByteDance to the United States, as it is Hong Kong-listed. Moreover, the Foreign Company Accountability Act (FCAA) is unfriendly to concept stocks issued by China.
During his time at Xiaomi, Zhou Shouzi was the head of its international department. He was responsible for helping the company prepare for its IPO. He spent time thinking about every word of the H-share prospectus, which is around 600 pages long. After becoming the company’s international department president in November 2018, he partnered with Lei Jun, the co-founder of Xiaomi. Lei Jun, Zhou Shouzi’s partner, hoped to accelerate the internationalization of Xiaomi.
