Tiktok Parent Company Bytedance Undergoes Major Reshuffling
The revelation comes after ByteDance shared an internal memo with Reuters (via). Bytedance co-founder Liang Rubo sent the memo earlier today. In addition to the reshuffling of roles, ByteDance is also splitting to create six new business units or BUs. Rubo will replace ByteDance co-founder Zhang Yiming as the CEO in December 2021. ByteDance has a valuation of around $300 billion ByteDance has a valuation of around $300 billion Additionally, the company’s services will be split into six branches comprising TikTok, Douyin, Lark, BytePlus, Nuverse, and Dali Education....