{"id":18192,"date":"2022-07-16T13:24:24","date_gmt":"2022-07-16T13:24:24","guid":{"rendered":"https:\/\/zeru.com\/blog\/?p=18192"},"modified":"2022-07-16T13:24:25","modified_gmt":"2022-07-16T13:24:25","slug":"bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo","status":"publish","type":"post","link":"https:\/\/zeru.com\/blog\/bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo","title":{"rendered":"ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_43 counter-flat ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69ea16a4ef1bc\" class=\"cssicon\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><label for=\"ez-toc-cssicon-toggle-item-69ea16a4ef1bc\"  class=\"cssiconcheckbox\">1<\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69ea16a4ef1bc\" ><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zeru.com\/blog\/bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo\/#ByteDance_Hires_Ex-Mizuni_CEO_Shou_Zi_Chew_As_CFO\" title=\"ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO\">ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zeru.com\/blog\/bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo\/#ByteDance_aims_to_challenge_Alibaba_Group_in_Chinas_17_trillion_e-commerce_market\" title=\"ByteDance aims to challenge Alibaba Group in China&#8217;s $1.7 trillion e-commerce market\">ByteDance aims to challenge Alibaba Group in China&#8217;s $1.7 trillion e-commerce market<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zeru.com\/blog\/bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo\/#Deal_is_complicated_by_new_rules_from_China_over_tech_exports\" title=\"Deal is complicated by new rules from China over tech exports\">Deal is complicated by new rules from China over tech exports<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zeru.com\/blog\/bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo\/#Douyin\" title=\"Douyin\">Douyin<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zeru.com\/blog\/bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo\/#Using_ByteDance_to_promote_a_tv_and_smartphone\" title=\"Using ByteDance to promote a tv and smartphone\">Using ByteDance to promote a tv and smartphone<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"ByteDance_Hires_Ex-Mizuni_CEO_Shou_Zi_Chew_As_CFO\"><\/span>ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>ByteDance has hired a former Xiaomi executive director as CFO, Shou Zi Chew, to help it navigate China&#8217;s new rules on tech exports. This deal will help ByteDance compete in China&#8217;s $1.7 trillion e-commerce market. In the meantime, the Chinese company is working on promoting a smartphone and a TV.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ByteDance_aims_to_challenge_Alibaba_Group_in_Chinas_17_trillion_e-commerce_market\"><\/span>ByteDance aims to challenge Alibaba Group in China&#8217;s $1.7 trillion e-commerce market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Founded in 2012 by Chinese entrepreneur Zhang Yiming, ByteDance has aggressively attacked established Internet players in the country. It&#8217;s since launched mobile payment service Douyin Pay and expanded into the video games industry, education, and local services. The company&#8217;s rise in the last year has sparked IPO speculation, but it says it has no immediate plans to go public.<\/p>\n<p>It&#8217;s unclear if ByteDance is ready for an IPO, but its founder, 38-year-old AI coding genius, is pursuing a global expansion strategy. The company has launched in Indonesia and the U.K. last year and introduced its own online store TikTok Shop in Thailand and Malaysia just this month. Whether it&#8217;ll be able to take on Amazon is yet to be seen, but the company is clearly aiming to challenge Amazon in global e-commerce.<\/p>\n<p>Douyin&#8217;s customer support staff has grown from 100 to around 1.900 employees. In a bid to stop counterfeits, Douyin is hiring an additional 900 employees. It also has physical foundations where live streamers can meet potential buyers. A number of retailers and merchants have already registered to join ByteDance, whose goal is to become the next big thing in China&#8217;s e-commerce industry.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Deal_is_complicated_by_new_rules_from_China_over_tech_exports\"><\/span>Deal is complicated by new rules from China over tech exports<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a sweeping move, China has introduced a set of new rules that limit what companies can sell to their countries. These new rules could take as long as 30 days to come into effect. While it may be a temporary setback, it may also delay a deal that would otherwise be done much faster. The restrictions will also apply to TikTok and ByteDance.<\/p>\n<p>The Commerce Department has put firms flouting these controls on its Entity List. If the United States is unable to catch violators, other countries with which the two countries cooperate could cut them off from their access to technology. Beijing would pay a reputational price if it were seen as undermining the alliance. But new rules may be even tougher to swallow for Beijing. The country relies heavily on foreign technology, and new rules are likely to exacerbate the situation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Douyin\"><\/span>Douyin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Using the same platform to sell online, ByteDance offers lifestyle services through its Douyin app, akin to Tencent&#8217;s WeChat and Meituan. Douyin&#8217;s e-commerce foray into China could prove to be a roadmap for TikTok, which is quietly building a team of engineers in Singapore.<\/p>\n<p>The company is expanding its reach into e-commerce, even as advertising revenue remains the majority of its earnings. As the number of merchants on Douyin rises, advertising revenue will become even more significant, accounting for around 20% of the company&#8217;s total ad sales. Its biggest contributors to its ad sales are its Kuaishou merchants, with approximately 20% of all sales coming from them.<\/p>\n<p>As the Chinese middle class grows, luxury spending will continue to increase in China. With more people spending money on luxury goods, Douyin is a great way for brands to capitalize on the potential of this growing market. The Chinese middle class will ultimately drive this growth. ByteDance&#8217;s IPO will be a test for investors. If the company can convince enough investors, it will have no problem raising a $100 billion valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Using_ByteDance_to_promote_a_tv_and_smartphone\"><\/span>Using ByteDance to promote a tv and smartphone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It&#8217;s no secret that Chinese companies are trying to break into the U.S. market, but the ByteDance brand isn&#8217;t likely to be a success here anytime soon. The company acquired the patents and staff of another Chinese smartphone company, Smartisan, and the Financial Times reported that Mr Zhang had long dreamed of a phone that comes with pre-installed apps. But will the ByteDance brand make it to the United States?<\/p>\n<p>ByteDance&#8217;s smartphone, which will run Android and iOS, is not slated to come to the U.S., but it is definitely coming to China. The company recently acquired the patents of Smartisan, a four-year-old Chinese smartphone manufacturer. But, it is unclear when the smartphone will be released. Whether it will be a smartphone or a TV is still in question.<\/p>\n<p> <iframe width=\"364\" src=\"https:\/\/www.youtube.com\/embed\/VHJwmCu8TQo\" frameborder=\"0\" allowfullscreen=\"true\" height=\"203\" style=\"margin:0px auto; display: block;\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO ByteDance has hired a former Xiaomi executive director as CFO, Shou Zi Chew, to help it navigate China&#8217;s new rules on tech exports. This deal will help ByteDance compete in China&#8217;s $1.7 trillion e-commerce market. In the meantime, the Chinese company is working on promoting a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":18587,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[321],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.7 (Yoast SEO v21.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO - Zeru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zeru.com\/blog\/bytedance-hires-ex-mizuni-ceo-shou-zi-chew-as-cfo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO\" \/>\n<meta property=\"og:description\" content=\"ByteDance Hires Ex-Mizuni CEO Shou Zi Chew As CFO ByteDance has hired a former Xiaomi executive director as CFO, Shou Zi Chew, to help it navigate China&#8217;s new rules on tech exports. 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