ByteDance to invest in education technology business

📆 7/22/2020 2:00 PM
📰 Reuters

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A senior executive at TikTok owner ByteDance said the company plans to invest 'a huge amount' of capital into its newly-established education technology business but warned that the unit will be unlikely to profit in the next three years.

FILE PHOTO: A man walks by a logo of Bytedance, the China-based company which owns the short video app TikTok, or Douyin, at its office in Beijing, China July 7, 2020. REUTERS/Thomas Suen/File Photo

Beijing-based ByteDance has made education technology one of its top priorities alongside short video app TikTok, which is facing scrutiny in Washington over suspicions China could force the company to turn over user data. ByteDance operates one-on-one English tutoring app GoGoKid and online course livestreaming app Qingbei.

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Too late, LinkedIn Learning, Udemy and Coursera are big playes in that space.

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TikTok: ByteDance US investors consider buying majority stake - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. This has to happen imo. Tiktok’s rise and potential for growth is way too important for it to be torn apart due to politis. Bytedance should sell a majority stake to investors that would please both the US and China. It's a CCP controlled APP, not matter how it's reconstructed.
Source: BusinessInsider - 🏆 729. / 51 Read more »