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ByteDance Livestreams Attract Famous Brands
The livestreams of ByteDance have attracted prominent brand representatives, including Lei Jun, the founder of technology giant Xiaomi, who led a livestream showcasing their new Mi TV and Mi phone. Other notable speakers at the event included Luo Yonghao, an influential figure who once took on Apple with his smartphone brand, and Zhou Huang, a jewelry business owner who follows orders from her superiors.
Douyin
ByteDance, an artificial intelligence-driven e-commerce platform, has a plan to use AI algorithms to feed users content while online shopping. Douyin users would not be able to resist the urge to buy, according to its executives. See the article : What Happened to TikTok?. A standalone Douyin e-commerce app is currently in development. Nevertheless, the business model may not be for everyone.
The new e-commerce platform aims to attract more consumers by boosting their online shopping experience. Douyin’s total sales growth in the first quarter of this year was higher than that of Alibaba’s Tmall platform. Although the number of users may be limited, it is hoped that the business will grow to a point where it will overtake Alibaba’s Tmall in the second quarter.
ByteDance’s parent company, ByteDance, is facing a growth bottleneck in its domestic China market. In an internal meeting, ByteDance disclosed that its domestic advertising revenue has stopped growing for six months, and it has not grown in the country since 2013. Douyin is not the only company on ByteDance’s radar. It has partnered with WalMart and started testing online shopping with Shopify, a company that provides software for online shopping. It has also quietly built a team of engineers in Singapore.
Shi Ye Bu Qu Dong Business Unit (BU)-driven by ByteDance
The Chinese e-commerce giant has been expanding its presence internationally and is already an established player in the US. This expansion includes purchases made on its own e-commerce site and acquisitions of development studios. If the company goes public, it could surpass $250 billion in valuation, making it one of the world’s most anticipated debuts. This may interest you : How to Save Videos on TikTok. However, despite its expanding reach, it’s not yet clear if ByteDance will handle sales of products on its own. The goal is to sell more advertising space to merchants to increase traffic and take a cut of the sale.
As an example, Zhou Huang, a Douyin-based entrepreneur, has surpassed the scalability of the online shopping platform in China. By bypassing the conventional platforms, Zhou Huang has amassed over 20,000 Facebook fans. The videos, which feature tips for buying online, have helped Zhou Huang earn his followers. ByteDance also provides coaching and round-the-clock technical assistance to jewellery sellers in Foshan.
A recent meeting between the two companies has revealed that ByteDance’s CEO, Zhang Yiming, is committed to bringing innovation to the company. After all, he is responsible for building ByteDance Ltd. into the world’s most valuable private company. This is no small feat, and Zhang Yiming has been working diligently to make sure the company stays ahead of the competition.
Douyin’s revenue contribution to ByteDance’s domestic ad sales
ByteDance is a Chinese video company that has been around for 10 years. It has grown to be the world’s most valuable startup with over 1.9 billion monthly active users, over 110,000 employees, and a revenue forecast of $58 billion by 2021. The company is best known for its short video app, TikTok, which has been downloaded over three billion times worldwide. But the company has a history of churning out product after successful one. The company’s short video app Douyin was launched before the popular TikTok app and is now the most downloaded news app in China.
Although TikTok has a global following, it contributes little to ByteDance’s overall revenue. Instead, the company depends on the Chinese version of TikTok, Douyin. It is currently responsible for 60 percent of the company’s domestic ad sales, while its main competitor, Kuaishou Technology, accounts for 42. On the same subject : How to Adjust Clips on TikTok.6%. Douyin has also recently announced a partnership with Hong Kong movie star Andy Lau and CCTV’s New Year’s Gala. Last week, the company launched its own payment system, enabling users to pay for their purchases on Douyin.
While Toutiao and Douyin are a dominant force in Chinese social media, their western counterparts are less successful. Meanwhile, ByteDance has an enduring game development arm, which is continually expanding and attracting new users. Douyin and Resso are rapidly growing in key developing markets, and the Chinese music app could potentially act as a springboard for dominance of global music.
