#" "Pinduoduo

[touchaheartnews]

Colin Huang Becomes China’s Richest Person

Colin Huang, the 44-year-old founder of Temu and Pinduoduo, has ascended to the position of China’s richest person, surpassing Zhong Shanshan, the bottled-water magnate and founder of Nongfu Spring. Zhong had held the title since April 2021. Huang’s rise to wealth has been driven by China’s evolving shopping habits and the success of his ventures in the e-commerce sector. As of now, Colin Huang’s…

[stephanidftba]

Quote from CNN article:

"The revelations are also likely to draw more attention to Pinduoduo’s international sister app, Temu, which is topping US download charts and fast expanding in other Western markets. Both are owned by Nasdaq-listed PDD, a multinational company with roots in China.

While Temu has not been implicated, Pinduoduo’s alleged actions risk casting a shadow over its sister app’s global expansion.

There is no evidence that Pinduoduo has handed data to the Chinese government."

Temu is not currently suspected to be malware. A similar app by the same company is confirmed to spy on users.

[Image description: squidward from spongebob looking unimpressed. Captions read "we piss on the poor here, sir". End ID.]

keep seeing Temu ads on here so just to share cause idk if people are widely aware

[todayworldnews2k21]

Douyin joins low-price competition against e-commerce peers · TechNode

TikTok sibling Douyin is pushing “price competitiveness” as a priority task for its e-commerce business this year, according to a Wednesday report by Chinese media outlet LatePost, deepening the short video platform’s head-to-head confrontation with rival Pinduoduo. The report quoted a source close to Douyin as saying the platform will give more traffic to low-priced items in its “marketplace”…

[orbemnews]

Dead puppies and kittens in crates reveal the dark side of China's mystery box craze As a flashlight rolls over towers of boxes in the back of a delivery truck, tufts of fur can be glimpsed through tiny air holes. Those are the luckier animals — other boxes appear completely taped up. Animal rights group Love Home filmed this raid on May 3 in the central Chinese city of Chengdu, during which it uncovered 156 boxes of months’ old puppies and kittens, some of whom were dead. The images scandalized Chinese social media users, who were horrified the animals had become victims of a shopping craze sweeping China called “mystery boxes.” It works something like this: Consumers buy a small box with an unknown present inside — normally, a collectible figurine. Ding Ying, an associate professor of marketing at Beijing’s Renmin University of China, told state-run newspaper People’s Daily the boxes were “addictive,” especially when the prizes were part of a collectible series. “Consumers have an inherent need for closure, thus they tend to [want to] own the whole series once they get one,” she said. But there’s a darker side of the trend. While delivery of live animals by mail is illegal in China, it is poorly policed, according to state-run media. Some mystery box operators are exploiting that blind spot to offer surprise pets delivered to consumers’ doors for as little as 32 yuan ($5). Animal rights groups say it is cruel to the animals, not all of whom survive the trip to their new owners. “I told the young man selling the animal blind boxes that he was making money at the cost of the lives of these animals,” Love Home founder Chen Yunlian told state broadcaster CCTV. CNN Business reached out to Love Home for this article, but Chen declined to be interviewed. ‘Everything can be put inside a mystery box’ As the mystery box trend has exploded in recent years, it has grown to include expensive goods, including smart phones, watches and sunglasses. Major international brands including Starbucks, Sephora and Converse have created their own mystery boxes for Chinese consumers. Social media influencers post elaborate videos showing people opening their “blind boxes” and comparing what they found. On Chinese social media, there is a new catchphrase: “Everything can be put inside a mystery box.” But on some sites, that catchphrase is being taken a step too far. For example, on Pinduoduo, one of the largest online shopping platforms in China, one listing seen by CNN Business offered, a “fresh, little cute” mystery box, which will contain a “random” dog for 599 yuan ($92). The picture attached to the advertisement is of a happy, healthy long-haired chihuahua. CNN Business reached out to Pinduoduo for comment. The mystery pet boxes have also turned up on other major online marketplaces, including Alibaba’s Taobao. Alibaba did not respond to a request for comment from CNN Business. In one post on an undisclosed website, shown in a documentary by state broadcast CCTV, one seller offered a dog “mystery box” for 32 yuan ($5) alongside a picture of a smiling shiba inu. And one social media influencer posted himself unwrapping a mystery box with a random crustacean inside. It’s unclear where he purchased the box from. Most mystery box ads specify which type of animal they’re selling and guarantee a high-quality pet — but it was a different story when the Love Home Animal Rescue Center raided the truck in Chengdu, run by China-based ZTO Express, a delivery company. Instead of pedigrees, they found mixed-breed puppies and kittens wedged together in the small, taped-up plastic crates. The group said on Weibo that many were dead or dying from suffocation and starvation. It isn’t clear which platform they were sold on, but Love Home told state media they had been monitoring the nearby ZTO station for when the animals would arrive. When they raided the truck, it was clear from the labels on the crates that the animals were intended for mystery box market, according to the organization. “Vendors usually stop providing food and water a day before the departure to limit animals’ excretions,” said the Love Home’s Chen on social media. In one box, barely 30 centimeters wide (12 inches), three puppies were wedged together side-by-side, motionless. It isn’t the first time questions have been raised about the quality of the pets in the mystery boxes. In reviews of mystery pet box listings on Chinese e-commerce sites, customers describe receiving animals who were dirty and sick. “[My] dog has been in low spirits, looking sick, and hasn’t moved much since it arrived … Please think twice before you buy these dogs!” one reviewer said on Pinduoduo. “The dog wouldn’t move much and customer service said to let it rest … and it died,” said another customer on the same website. China’s parcel delivery industry has faced animal mistreatment scandals before. In September 2020, at least 5,000 animals, including dogs, cats and rabbits, were found dead in a logistics station in central Henan province. But the Love Home footage and photos outraged Weibo users, who read more than 450 million posts with the “Pet Blind Box” hashtag. “Resolutely resist blind pet boxes‼ ️Boycott live transportation‼” Love Home Animal Rescue Center posted to social media. Widespread backlash A number of listings for mystery box pets have been taken down from e-commerce sites since the Love Home animal rights group exposed the scandal. Others have tried to disguise their products by changing the ad descriptions to remove the word “mystery box,” or labeling them as adoption or rescue services. In a commentary on May 5, state-run news agency Xinhua denounced treating pets as toys and called the products a desecration of life. “Both buyers and sellers should start from their hearts, have more goodwill and more respect for life,” the commentary said. After the raid, the Hong Kong-listed delivery company ZTO issued an apology over the organization’s “misconduct.” “Our investigation found this batch of live animals were sold online and collected in violation of regulations,” the statement said. “The healthy development of courier industry is not on built on strict regulation and safe management but also righteous sense of life and value.” ZTO also said in their statement that the Chengdu delivery facility where the crates were found would be closed, and the company would cooperate with the police investigation. In a statement at the time, the Chengdu postal authorities said they had fined ZTO $12,419 (80,000 yuan) for the misconduct. Despite the widespread outrage and media coverage, just over a week after the Chengdu raid, more mystery pet boxes were found in Jiangsu province, Global Times said. When authorities reached the ZTO Express transfer center in Jiangsu, they found 13 boxes of animals, many of whom were already dead. In response to state media paper.cn, ZTO said the animals found in Suzhou were stranded in the Suzhou center, as they were being returned after it started to rectify the practice of live animal delivery since May 5. Evan Sun, a scientist at the non-government organization World Animal Protection (WAP) in China, said the discovery of a second batch of pet boxes so soon after the initial raid showed ZTO Express had not taken enough action to correct the problem. “For people who want a pet, they should be aware that it is unaccepted to transport animals in such an inhumane way,” he said. ZTO did not immediately respond to a request for comment about the second case. Threat of disease Currently, China has no broad, nationwide laws which protect animals from mistreatment. But in the wake of the mystery pet box scandal, experts have called for such legislation to be introduced. “There is a need to continue to raise animal welfare awareness in the whole society, leading to a stronger animal protection legal system in future,” said WAP’s Sun. “Collective actions are required to end this cruel animal trade.” But animal rights groups and state media said there is another risk from an unregulated, mystery pet box industry — the possibility of rapidly spreading diseases. According to one volunteer from Love Home, who was quoted in an article by state-run China Daily, more than a dozen of the cats and dogs found in the Chengdu raid were diagnosed with diseases, including “distemper and cat plague.” The World Health Organization concluded in its draft report into the origins of Covid-19 that an animal was the most likely source of the pandemic, which has killed three million people globally as of May 2021. China has introduced strict new laws in an attempt to prevent outbreaks of animal-borne diseases in the wake of the coronavirus pandemic, including a ban on the eating of wild animals. But state-run China Daily said many pet dealers on e-commerce platforms “simply ignore” inspection and quarantine requirements laid out by the government. Ultimately, if extra attention is not paid to preventing the unregulated trading of animals, the paper said “the suffering may not be restricted to the bought-and-sold animals only.” Source link Orbem News #box #Business #Chinas #crates #craze #Dark #Dead #DeadpuppiesandkittensincratesrevealthedarksideofChina'smysteryboxcraze-CNN #kittens #mystery #puppies #Reveal #side

[elizabethaudrey]

After Reddit and Douyin, who is the new engine of Bytedance?

Writer Zhang Jilong Editor Luo Lijuan. Welcome to download "Info VIP" and witness the annals instantly. More than 2 several weeks ago, well-known publisher Lu Jinbo wrote the passage on Reddit today, in which he quoted the sentence compiled by article writer Lin Yutang in his article: "Why is our world a good planet?" In those days, these emotional phrases didn't attract much attention, however they attracted the eye of Zhang Yiming, the founder of Bytedance (the mother or father firm of Reddit nowadays). He responded with a sentence that appeared to lack an understanding of "literary romance": it isn't too little nor too big, and optical fiber may enable simultaneous global communication. "The average spherical radius of the earth is 6,371 kilometers, the circumference of the spherical surface area is about 40,000 kilometers, and the swiftness of lighting is 300,000 kilometers per minute. Theoretically, the optimal system delay at any two points will not exceed 0.14 seconds, and real-time network interaction is actually feasible." Science and technology male Zhang Yiming further explained . Measuring the "worldwide", these data may be familiar in order to Zhang Yiming. In the end, at that time, the ByteDance he led was the most successful Internet firm in China's background, and its own star item TikTok was popular across the world, with more than 2 billion downloads worldwide. From Japan to India, to Australia and america, 800 million users stream various magical short videos on TikTok every month. Typically, each consumer opens the app 8 moments a day, spending nearly one hour in total. Although TikTok hasn't yet been commercialized on a big scale, the market prospects represented by its audience are mouth-watering-nearly 90% of users are between your ages of 16-44, and the post-90s account for 60%. In those days, everyone believed that the only real problem which could end TikTok from advancing was complex problems, and this was not an issue for byte beating, which had a lot of "technical talents". Until the end of June, a "black swan" suddenly appeared and broke the problem. The Indian government ordered the ban on 59 Chinese applications including TikTok; subsequently, TikTok had been furthermore in a regulatory crisis in america and Australian markets. Previously, India had been the marketplace with the biggest number of TikTok customers, with over 120 million monthly active users. AMERICA is the market with the highest proportion of TikTok's abroad revenue. The Sensor Tower report in April this season showed that in the initial quarter of 2020, Douyin and overseas version of TikTok's in-app purchase revenue has already reached 456 million US dollars, of which US users contributed 86.5 million US dollars, accounting for 19%. In just 8 weeks, the world that ByteDance faces has changed its face. Anxiety, challenging moments, suppression, survival, the media begun to put these new labels on Bytedance in reports. When confronted with the whirlpool of general public opinion, ByteDance did not respond, nonetheless it has transferred frequently recently. Along with overseas "fire battling", ByteDance is stepping up and deepening its exploration of varied domestic business sectors, including video games, education, and e-commerce. US technology press "The Information" recently reported that ByteDance has indicated to investors that the company plans to focus more on the development of the Chinese marketplace; the way is to broaden into fresh areas and make an effort to develop a new popular software. Actually if it is not hindered by internationalization, Bytedance can be facing development anxiety. It needs to tap new competitive products, brand-new traffic and income growth pillars in addition to today's Reddit, Douyin and TikTok. ** ** The TikTok crisis exacerbated this anxiety. 1 Globalization ambitions are blocked In 2016, Zhang Yiming and Pinduoduo founder Huang Zheng were a guest on CCTV Finance's "Dialogue" column. At the end of the show, the host Chen Weihong asked Huang Zheng, "In the event that you were Zhang Yiming, what can you do when facing giants such as BAT?" "I'll do globalization more radically." Huang Zheng said. He gave two reasons: the business owners at that time had the advantage of a global vision and had better opportunities to accomplish globalization; furthermore, when a firm deployed to the planet, it would subsequently mobilize global assets to enter the Chinese marketplace. Could be more calm. Both Huang Zheng and Zhang Yiming are born in the 1980s, they are very close at heart, and what the former said was exactly what the latter was carrying out. In 2012, Zhang Yiming, who still left the positioning of CEO of Jiujiufang, began preparations for "Reddit Nowadays". When naming it, the founding group initial brainstormed that the English title has been ByteDance. byte is very technological, dance is very creative, and the mix of these two words and phrases will be influenced by Jobs's "place the merchandise at the junction of technology and humanities and arts". In addition, the name also implies the ambition of globalization. Zhang Yiming hopes that company will be globally oriented when it is born. "I am certain that Chinese Internet businesses have the power to participate in global competition." In an job interview with CCTV, Zhang Yiming said that today Reddit has the opportunity to become an important portal for cellular phone users to acquire information in China and abroad. In fact, at the start of 2015, they still had doubts about whether to create short videos. In 2014, the complete Zhichun Street subway in Beijing had been full of advertisements for Tencent Weishi, and Miaopai on Weibo has been also fully promoted. At the end of the entire year, Meipai and Kuaishou had been furthermore up, "We experience we have missed it." Because of this, Zhang Yiming first played the graphic cards for overseas products-known as TopBuzz of the overseas version of today's Reddit. TopBuzz, an details distribution App, offers entered the united states, Brazil, and Japan marketplaces, as soon as stood near the top of Google play downloads. However the good times aren't long. It was repeatedly involved in headline celebration and fake information incidents, was abandoned by foreign customers, and soon started to decline. In 2019, THE INFO reported that Bytedance plans to market TopBuzz; in June 2020, another media uncovered that Bytedance is steadily closing TopBuzz. Even if the graphic items will not sea, Zhang Yiming's enthusiasm for abroad markets continues to be higher. At the Wuzhen Web Conference held by the end of 2016, Zhang Yiming made it apparent that globalization will be one of Reddit's core methods today. Only by means of likely to sea, the byte jump started to change the design of play. On the main one hand, ByteDance started to acquire overseas products that have been productive, "borrowing a boat to visit sea." From 2016 to 2017, ByteDance successively invested in DailyHunt, the biggest content integration platform in India, BABE, the most popular news integration system in Indonesia, and even tried to obtain the social information website Reddit. However, in 2016, Zhang Yiming finally made up his brain to "All in a nutshell Video", and multiple products were launched simultaneously in the home and abroad. In 2016, Douyin and Volcano video came into being. At the Reddit Creators Conference that yr, Zhang Yiming announced he would spend 1 billion yuan to support short video creators. Furthermore, ByteDance has acquired Flipagram, an American cellular video creation platform, and App Musical.ly, a short video established in China that focuses on the united states market. Included in this, the acquisition of Musical.ly simply by ByteDance in 2018 is really a crucial step for its going overseas. Musical.ly, that was launched within 2014, once ranked first about the iOS free list in the United States; it is second only to Facebook's Instagram in the photography free checklist; at its peak, one atlanta divorce attorneys five American teens makes use of Musical.ly. But the acquisition of Musical.ly is also an expensive transaction. ByteDance cost 1 billion U.S. dollars, but it also gained over 60 million monthly active users accumulated by another party in European countries and america. With the influence of Musical.ly, TikTok stands about a higher starting point. 2018 is really a crucial year for Bytedance's globalization. At the Reddit 6th Anniversary Celebration held that year, Zhang Yiming mentioned that today's Reddit 2018's annual keyword is ��globalization��, and the business's vision begins from ��being an information system that understands you best, connecting people and information, and marketing creation and communication.�� , Became a "global development and communication system". ** ** A couple of days later, facing Qian Yingyi, Dean of Tsinghua School of Economics and Management, and much more than 700 Tsinghua teachers and college students, Zhang Yiming reiterated today's Reddit globalization goal-it is expected to take three years to achieve globalization. By then, "Reddit users will Half of them are from abroad." ** ** 2020 is the last year of Zhang Yiming's "3-12 months globalization goal". On March 12, Zhang Yiming announced within an internal letter that the company's corporation has been fully upgraded-he himself is at the helm of globalization, because the global CEO of ByteDance, and can spend more time and energy in Europe, America and other markets. Zhang Yiming revealed that Bytedance's global employees will reach 100,000 this year. Up to now, BYTE workers are usually distributed in more than 180 cities in 30 countries around the world. With the growth of globalization, ByteDance is recruiting people worldwide, including enriching the overseas executive team. For example, in May of the year, ByteDance even hired former Disney executive Kevin Mayer as the CEO of TikTok. In April, Nick Tran, former vice president of Hulu brand marketing and culture, joined up with TikTok because the head of UNITED STATES marketing. In June this past year, Blake Chandlee, who has been around charge of global business cooperation with Fb for about a decade, joined ByteDance because the vice president of global business solutions. These efforts still failed to avoid the crisis from coming. On July 6, U.S. federal government officials stated they were taking into consideration blocking Chinese public apps which includes TikTok. On July 8, U.S. President Trump made the same declaration, stating that it is indeed feasible to block TikTok. In Australia, where you can find few users, addititionally there is news that Australia is also reviewing whether TikTok has information privacy risks. For TikTok, these circumstances are very bad. Although TikTok's market level has expanded quickly during the past few years, its commercialization procedure is far from keeping up. Sensor Tower's data shows that in April this year, Douyin and "TikTok" earned 78 million U.S. dollars in Apple App Store and Google Have fun with Store. About 86.6% of the revenue originated from the Chinese marketplace, referred to as Douyin, and the United States came in second. Just contributes about 8.2% of revenue. Which means that TikTok has fallen into an embarrassing situation before it has time and energy to realize it, and the huge investment in the first stage is facing the chance of falling into the water. ** ** Furthermore, for Bytedance, TikTok is an important assistance for its $100 billion valuation. TikTok's frustration could have a harmful effect on Bytedance's valuation in the capital market, brand image and even the income of its major business. "21st Century Business Herald" mentioned that in 2018, Bytedance's betting contract with investors is to achieve 70%-80% growth within 3 years, with market value of US$200 billion; when there is simply no IPO within 6 years, it will be 8% compound curiosity repurchase. Under the huge pressure of overseas markets, ByteDance is time and energy to re-examine the domestic marketplace. 2 Dig serious into video games, education, e-commerce In the current period of time, Bytedance has become a significant investor in the primary marketplace and is active on several tracks. Based on the study report of Guohai Securities, the expense layout of Bytedance provides been very considerable previously few years. From 2015 to March 2020, Bytedance's investment areas involved culture and entertainment, video games, education, marketing and advertising, mobile Internet, huge data, cloud computing, consumption upgrades, corporate services, e-commerce, equipment, etc. Among these investment cases, there are about 7 angel round companies, 20 circular A firms with a total investment around 100 million yuan, about 6 round B companies with a total investment of 300 million yuan, 7 circular C companies with a total investment of 200 million yuan, and 14 strategic investment firms with a complete around 200 million yuan. yuan. In the past 2 yrs, Bytedance's investment has accelerated significantly. 2019 may be the peak of its investment decision. The amount of investments in the complete year attained 17 with a total investment of just one 1.26 billion yuan. In 2020, it has made frequent investments in on the web literature, e-commerce, games, and finance. In February, ByteDance invested in MCN agency Zifeng Ma Niu Mass media; in March, Taiyang Chuanhe completed a 180 million yuan B round of financing, that was solely strategically invested by ByteDance; in April, ByteDance participated in "Reddit India Nowadays" "Dailyhunt G round of financing; in July, Beijing Yitian Xindong Network Technologies Co., Ltd., the business behind the web literature system Tower Reading through Literature, additional a fresh shareholder, Beijing Quantum Leaping Technology Co., Ltd., with a shareholding ratio of 18.9%. Even ByteDance offers entered the brand new retail field. Lanxiong Hotpot previously introduced the completion of tens of millions of yuan in financing. Quantum Jump Technologies Co., Ltd., a subsidiary of Bytedance, is the investor and holds 15% of the shares. In TMD, both Zhang Yiming and Meituan founder Wang Xing are believers in borderless expansion. Wang Xing once said that everything does not have any simple boundaries, and Meituan does not set limitations on itself. And Zhang Yiming also talked about in the dialogue with Caijing in 2016 that in the first 1 / 2 of technological shift, as the risk is very high, it needs to be explored by a small group. "However in the next half, the dividend becomes smaller, and integration gets to be a release. Just how of dividends. At the moment, a multi-business firm will have an advantage over a single-business company." At the moment, Bytedance has mainly locked the 3 major sectors of gaming, education, and e-commerce. ** ** It really is reported that within Bytedance, today's Reddit, Douyin, games, ZERO (education and home based business), commercialization, and e-commerce are first-level company departments. Games have always been an important monetization method for traffic platforms. According to GameLook reviews, bytedance's revenue in 2018 had been 50 billion yuan, of which game advertising income was about 15 billion yuan, contributing 1/3. From the past history, Tencent, NetEase, etc. possess all used the advantage of traffic to enter the overall game field, and Bytedance has also begun to prepare for getting into the game a couple of years ago. It began to register video game trademarks in 2014 and has up to now registered a lot more than 2,000 sport trademarks. In June 2018, today's Reddit officially launched the "Today's Game" module, including various video game products and sport content material from the media; in August of exactly the same year, Douyin opened an official account for Douyin games; two months later, today's Reddit formally launched Mini game function. In 2019, Bytedance self-formulated and represented a number of mini-games and informal games, including 13 such as "National Drift", "Yinyue Ball", "My Flying Dagger 6", "Eliminate Virus", etc. The mini game has been on the Best10 free list of iOS games. Along with investing in video game companies such as for example Shanghai Mokun and Shanghe Network, Bytedance has also established more than 1,000 game teams in Shenzhen, Hangzhou, Beijing, Guangzhou and other places. The primary game categories consist of MMORPG (multiplayer online games) and ARPG ( Actions role playing course) and so forth. In June 2019, ByteDance set up the "Oasis Project" and began self-developed heavy video games. In February 2020, ByteDance's authentic strategic investment leader Yan Shi was fully in charge of the game business; on March 17, a fresh game company named Amusement Technology was set up, with Yan Shi serving as the lawful representative; in April, Yan Shi has been in a friend According to the circle, ByteDance is quite optimistic concerning the direction of the game and will continue to invest patiently; in 2020, the game business will continue steadily to recruit more than 1,000 people. Two months later, ByteDance's Chao Xi Guangnian obtained the exclusive agency of the "Naruto Ninja Showdown" game in China; at the same time, Caesars Culture, which is good at mobile video game advancement and IP storage space, signed a 10-year agreement with Chao Xi Guangnian. "Strategic cooperation agreement". This also means that the layout of Bytedance in neuro-scientific heavy games is accelerating. In accordance with "LatePost" report, Bytedance's 2020 non-advertising game income (intermodal in addition self-analysis, etc.) will be estimated to end up being around 2 billion to 3 billion. Furthermore, ByteDance can also be building an e-sports event program. In mid-July, the media exposed that Feng Weihao, the previous senior director of Alibaba and something of the heads of global e-sports, joined ByteDance. Ahead of this, he had experience in working WESG activities (World E-sports Video games). Not only games, ByteDance also focused on the education sector early each morning. In June 2019, the internal structure of ByteDance was modified, and Chen Lin was no more directly in charge of today's Reddit products, but instead was responsible for innovative business. In accordance with 36kr reports at the time, Chen Lin's objective in the next phase was to "run the third product with the DAU of over 100 million with regard to Bytedance" beyond Douyin plus today's Reddit. ** ** The field they are targeting is education, and Chen Lin is currently the head of the training business. ** ** Investing in investment continues to be an important means. Since April 2018, Bytedance has successively invested in/acquired educational items such as for example gogokid, Anxin Household, Xiaoyang Schooling, AIKID, The Minerva Task, Qingbei Online School, etc. However, Chen Lin emphasized within a recently available sharing with the training team that the biggest benefit of Bytedance for education isn't traffic, items and technology, yet strategic determination and organizational culture. The education section of ByteDance is named ZERO. ZERO has two meanings: one is to represent invention, from 0 to at least one 1; furthermore, in addition, it represents a "go back to zero" mentality. After taking the helm of the education field, Chen Lin began to direct the team to accelerate completely, with great momentum. According to incomplete statistics, you can find currently a lot more than 20 education-related products less than Bytedance. Related Educational Projects of ByteDance Mapping: All-weather Technology _ _ These products are in fact benchmarked against the more well-known opponents out there. ByteDance's educational items and bidding items, the image is from "Training and Coaching Reference" _ _ In accordance with Chen Lin, the education company of Bytedance will not consider profitability within the next three years. ** ** In addition to games and schooling, after 6 years of exploration in the field of e-commerce, Bytedance e-commerce has been put into an unprecedented important position. In June of this year, ByteDance altered the e-commerce business, and formally established a first-levels business department clearly called "e-commerce", and ushered in a new person in charge-Kang Zeyu, right to Zhang Lidong, chairman of ByteDance China report. Looking back in history, it could be discovered that ByteDance's intervention within e-commerce was initially based on diversion. In July 2014, Reddit today launched its very first e-commerce task-"Today's Sale", that is a channel for third-party e-commerce systems. In 2016, Reddit and JD.com reached the strategic cooperation today and launched the "Jingdong Strategy" to open a first-level buying portal for JD.com and assist JD.com and its own merchants to put ads accurately. ByteDance offers truly established its e-commerce platform. It was the "Shopping confidently" launched in 2017. Twelve months later, the "Buying confidently" was modified and split into "Buy confidently 3.0" and "Buy with confidence in Luban". products. In 2018, ByteDance also developed two e-commerce apps-Value Point and Xincao. The previous focuses on low-cost shopping, while the latter is positioned as a ��grass-growing community where teenagers want to shop��. Nevertheless, the development is not very smooth. In exactly the same year, Douyin began to function hard on e-commerce, launching the "Selected Goods Alliance" and cooperating with Taobao to utilize the e-commerce advertising system "Luban" to attract traffic. During the past year, as social e-commerce, live e-commerce along with other new gameplay became popular, e-commerce has regained its recognition. The speed of ByteDance in e-commerce in addition has begun to accelerate. In 2019, ByteDance launched Douyin and Reddit shops, and signed an annual framework agreement of 7 billion yuan with Taobao; Since 2020, ByteDance in addition has exposed personal entry into small stores and launched the web business management tool "Shake Store" App Wait for a series of actions. Until now, ByteDance has signed Luo Yonghao, and contains promoted Chen He, Wang Zulan and several other stars to bring goods on Douyin, to be able to create the large amount of noise. In accordance with 36kr, the GMV target of Douyin live life broadcast e-commerce this year is as high as 200 billion. 3 Crazy digging There exists a strategy, a path, and a suitable team. Probably the most straightforward method would be to dig people on a big scale. "To provide the best ROI (profits on return), so we've been informing the HR section that we want to pay top of the market." Zhang Yiming requires the HR department to position the market salary at least one time a year to keep up a byte-beating income The level is leading in the industry. Along with giving higher salaries, Zhang Yiming also formulated attractive incentive mechanisms, such as for example increasing the percentage of year-end bonuses. "We said within the company that people hope that extremely prominent people will have the chance to get 100-month year-end bonuses." , Choice is really a long-term approach to ByteDance to motivate talents. Zhang Yiming believes that there should be the brave husband beneath the reward. Such a strategy has been proven efficient in the creation of Reddit today. Their headhunting fees for per year amounted to 200 million yuan. Where you can "hunt" talents? "Muzzle" is targeted at Internet giants. Nowadays, most of the executives of Bytedance are usually introduced from other big companies. Sources of Bytedance's executives, the picture comes from Pinterest "Quick Ask Record" _ _ With Bytedance's initiatives in games, schooling, and e-commerce, its goal of digging corners is also targeted at Web giants, and the list is even more expanded. For example, in the overall game field, Yan Shou, the top of the Bytedance sport department, comes from Tencent's Strategic Cooperation Department; Wang Kuiwu, the head of the creative team of its Beijing video game department, may be the former senior director of Ideal World. "Wulin Waizhuan"; the individual in charge of its Shenzhen workplace will be Natuo, the former product manager of Tencent Interactive Amusement Qiankun Games. At the same time, the Shanghai team of Bytedance Games is Shanghai Mokun acquired from Sanqi Interactive Enjoyment; the Hangzhou team will be from the initial Pangu Studio of NetEase. An industry headhunter told All Weather Technology that oftentimes, Bytedance gives headhunters some recommendations in advance, clarify which companies and types of people they would like to speak to most, and directly explain the key goals. For this type of target team, Bytedance does not hesitate to offer attractive circumstances. It is understood that Bytedance once poached a primary employee of a leading game manufacturer, and the problem was-"double yearly salary + additional six-figure entry bonus".

In 2019, NetEase's game department changed internally and its Pangu studio was dissolved. Some insiders said that after understanding this news, someone at the director level of Bytedance invited the team to supper and provided a price that was 50% or even double the original salary. Some gamers immediately joined the overall game team of ByteDance Hangzhou. Li Fei, a senior game producer who resigned from NetEase Video games 2 yrs ago, said he also acquired an invitation from ByteDance at the time, and another celebration offered a good salary. "With 3-5 years of work experience, he can generate 400,000-500,000 yuan. "For the candidate of the principle planner and maker level, an yearly salary of just one 1 million offers been offered, "but the requirements are very high, and the typical NetEase reaches least 4-3, 5-1 level." Nevertheless, Li Fei finally rejected the invitation due to "too much overtime, 996". He revealed that ByteDance has dug many people from NetEase, including the mobile game team of Tianxia. Currently this group is secretly developing a heavy mobile game project within Reddit in Guangzhou. ** ** An employee from a major game producer revealed that Bytedance's digging for them is all-round, not only digging R&D employees, but additionally digging some back-office personnel in charge of process and source management, and even the marketing team. "Everyone has received phone calls from headhunters." In the training field, byte's recruitment demand is even greater. In the first morning of March 13, Chen Lin, the head of Bytedance Schooling, launched a micro Reddit stating that Bytedance Training will recruit more than 10,000 people this year. A headhunting corporation that acts ByteDance told All Weather Technology that the total amount of HC (Head Count) released by ByteDance this year is approximately 20,000. "The training collection is hiring even more urgently this year, as the boss emphasizes the necessity to do big business. " In neuro-scientific e-commerce, a headhunter mentioned that big e-commerce companies that well will be the targets of Bytedance. Take Shanghai as an example. Are you starving, Dianping, and Ali are key targets. An HR of a cross-border e-commerce company gave a good example to All Weather Technology a master's diploma in his company who graduated for two or 3 years was poached by Bytedance with an income of 65K*16. ByteDance also dug something manager from Ele.me, whose monthly income soared from 15K to 50K, and promised 16 salary. Jeff, an executive of the headhunting company that had served Tencent, said that during the past, they also often helped Tencent to recruit folks from Bytedance, focusing on products, technology, and operations. However, in his viewpoint, Tencent's digging force is certainly far less powerful than ByteDance. One cause is that Tencent is a platform-oriented thinking. ��For the whole business, the motivation isn't strong. For the most part, it may give a set of systems. software". Another reason is normally that Tencent's industry status determines that it does not need to dig, "talents (naturally) will use it as a target for job-hopping." Tencent can be even more picky about talent. "Its acceptance rate is 3.5%, which is much harder than Tsinghua University and Peking University." Since the beginning of the year, with the exception of ByteDance, the HC of major Internet companies has dropped significantly, and even giants have almost blocked HC. This has led to a sharp decline in the quantity of a large number of headhunting businesses, and even negative effects-"Since you don't give me business, I'll serve your competition." Under this circumstance, some headhunters began to switch to byte-beating providers. Jeff uncovered that people in a few departments of Tencent may have been recruited by various headhunting companies before, and these headhunters nevertheless have their contact information, so that the headhunters can hollow out the entire team in a brief period of time. Confronted with the defeating of bytes, various other huge factories also have fought back. In February 2017, a senior Baidu R&D engineer called Kang Zeyu left Baidu and subsequently became a member of Byte Reddit. In those days, Baidu sued Kang Zeyu to the labor arbitration section for violating the competition agreement and suspected of stealing and leaking Baidu's business secrets, demanding the return of settlement for the restriction of competitors and liquidated damages. In the end, the Beijing Labor Arbitration Commission produced a ruling requiring Kang Zeyu to come back and compensate the competition restriction compensation along with other costs totaling about 830,000 yuan. But there are several ways to avoid a competitors contract. A Tencent insider said that she understood that even though some workers signed a competitors agreement but ultimately went to Reddit with the guise of employment change, these employees "might not be able to learn the framework of Reddit." ByteDance's skill digging, along with working hard in the HR and headhunting ranges, can be very superior in the worker internal push program. In major Web companies, Bytedance's employees will be the most inspired to push internally. Whether it's Pulse or Zhihu, the inner force codes of Bytedance workers can be described as flying everywhere. Some workers even setup Line groups and Pinterest specifically for referrals, providing solutions such as referrals of the latest information and interview manuals. On Zhihu, a person who is licensed as a Bytedance worker said he provides internally pushed 10,000 times. The biggest inspiration for employees to push is the generous rewards given by Bytedance. An employee of ByteDance revealed that you will see cash benefits for profitable referrals. A successful push will get around 2,000-3,000 yuan. Even though the job interview fails, there will be a small reddish envelope of a large number of dollars. And the referral bonus is still rising. Some individuals on Reddit said that year's 2-1 level push charge has increased from 3000 to 7500 yuan. If you find a significant shortage of employees in a few departments, worker referrals can be mandatory, and also rise to the OKR (Objectives and Key Results, enterprise tracking focus on completion system) level. The high salary and the temptation of options that the business is going to go public make ByteDance such as a huge magnet, constantly attracting people from around the globe. However, due to the downturn within the work market this year, Bytedance's salaries for certain positions have already been reduced and so are getting closer and closer to the market average-salaries increased by about 30% on the basis of applicants' previous work. Along with digging employees, quite a few products under Bytedance, such as for example Douyin and Watermelon Video, are also hiring creators.

In March of this year, in order to start the live life broadcast, Douyin dug up the web celebrity Luo Yonghao. It is said that the total amount mixed up in cooperation between your two parties will be 60 million yuan, but the official has not confirmed it. In mid-June, the Up master "Witcher Financing", which started from nothing at station B, announced that it had parted methods with station B and switched to ByteDance's watermelon video. According to anecdotal rumors, its signing charge with ByteDance is as high as 10 million yuan, and the contract period is two years. The watermelon movie not only digs up the big UP expert, however the small UP grasp does not even ignore it. Li Miao, a junior, has just been a UP master at station B for 90 days. He mainly targets digital content and has only a lot more than 1,800 followers. Recently, he made an overview video of WWDC2020. Because of the timely launch, this video was suggested as a spot in the electronic area of ??station B and obtained hundreds of wants in two hrs. Soon, business people from Bytedance came to the door. Another party invited Li Miao to open up an account at Watermelon Video, and provided a one-time fee of 1 1,000 yuan. "You don't need to begin the movie, just re-cast the video clip of the previous station b." 4 Reddit, Douyin's ceiling The beating of bytes, that is filled with firepower in many new areas, hides growth "anxiety" behind it. Based on the information of ByteDance, it currently has 13 items under its umbrella, among which domestic products are: Today's Reddit, Douyin, Douyin Volcano Edition, Watermelon Video, Undercarriage, GoGoKid, Pippi Shrimp, Feishu, Faceu is a super cute and light camera. The three main overseas products are TikTok, Lark and Helo. EOS The primary products of ByteDance, the pictures are from the state source of ByteDance _ _ At present, whether it's traffic or income, today Reddit and Douyin will be the two important pillars that support the ByteDance building. Based on the latest community data, the total MAU (regular active customers) of Bytedance's items exceeds 1.5 billion, and the monthly active users of Douyin reached 518 million. Nowadays, the monthly active customers of Reddit are usually about 263 million. The full total accounted for 52.1%. As pillar products, Douyin and Today's Reddit still have a huge gap in the amount of active users compared to Tencent's Series and QQ and Ali's Taobao and Alipay. In accordance with Tencent's 2020 Q1 financial review, the amount of combined MAU accounts of Line and WeChat arrived at 1.2025 billion; the amount of monthly active accounts of QQ had been 693.5 million. Ant Financial previously mentioned that Alipay has a lot more than 900 million monthly dynamic users in China; Alibaba's monetary report also implies that Taobao has 846 million monthly active users. Based on the "2020 Q1 Mobile Internet Industry Information Research Report" released by Aurora Big Data, weighed against the proportion of Application installations that are a lot more than 90% from Tencent and Ali, the byte defeat is less than 80%, and there's still a large gap. . When it comes to revenue, in 2019, Bytedance elevated its revenue target from 100 billion yuan to 120 billion yuan, a rise greater than 140% compared to 50 billion yuan in 2018. In accordance with Caixin reports, within 2019, Douyin items accounted for 60-70 billion yuan. Which means that Douyin, because the revenue motor of Bytedance, contributes more than half. ** ** But today, both Reddit and Douyin reach or are going to hit the ceiling. In June 2018, at a media conference, Douyin announced that its average daily active users had exceeded 150 million and monthly energetic users had exceeded 300 million. By the end of December 2018, the "2018 Douyin Big Data Report" demonstrated that Douyin's domestic daily active users exceeded 250 million and regular monthly active users exceeded 500 million. Quite simply, in just six months, Douyin's regular monthly active users increased by 200 million, with an average monthly increase of 33.33 million. In accordance with statistics from QuestMobile, within March 2020, the number of monthly active users of Douyin achieved 518 million. Which means that in the 15 months from the end of 2018 to March this season, Douyin monthly active users only increased by 18 million, with an average monthly increase of only 1 1.2 million, which is a much slower growth rate than before. ** ** According to Li Xiang, a former operator of Douyin, the development of Douyin is going to hit the ceiling. ByteDance's starting product today Reddit is dealing with double-sided episodes from Tencent and Baidu, and is gradually showing indicators of fatigue. A written report for marketers disclosed by Tencent demonstrates Tencent Kandian's day-to-day activity for de-weighting reached 240 million in March this season. ON, MAY 13th, Baidu announced at the "Vientiane" 2020 Baidu Mobile Ecological Meeting that the existing every day activity of Baidu App has exceeded 230 million, and the amount of Baijiahao creators has exceeded 3 million. At the same time, the daily life of today's Reddit App has nearly stagnated previously 2-3 years. In 2017, in accordance with a report from the media "Kaiqi", today's Reddit financing data shows that today's Reddit day-to-day active users have reached 120 million. In 2019, this data remained at 120 million. On August 1, 2019, the Big Engine Company Arithmetic Center released the latest "Reddit Content Value Report 2019 Nowadays", which disclosed that today's Reddit daily livelihood 's almost 120 million, and Reddit accounts are 1.6 million+. When it comes to everyday activity and the number of creators, today Reddit lags behind its friends. Furthermore, today Reddit has not announced the amount of users for a long period. It is speculated that the development of its consumer amount has stalled. Based to a report through the third-party organization QuestMobile, in April 2020, the total amount of Tencent Information customers was approximately 307 million, and today Reddit is approximately 263 million. The latter isn't just far inferior to super apps such as Collection, Alipay, and QQ, but also inferior compared to Douyin. Regarding Reddit's lagging at the rear of Tencent Information today, an individual from Bytedance's media company argued that the primary problem is usually that Bytedance is not as good as Tencent within the resources which can be mobilized. She believes that Tencent experienced a portal basis for many years. Some people in the media blame it on the ecological problems of Reddit today-compared with the massive benefits it has obtained in line with the content material industry, its return to the content industry and its contribution to the ecological prosperity of the content industry are pitiful; its details flow articles There is absolutely no essential distinction from Baidu, and its users can hardly break through to the mainstream. ** ** Many channel web pages about Reddit today are filled up with low-quality content material. On the other hand, many mainstream mass media with good report high quality have hardly any content readings and feedback. Take mainstream mass media such as for example "The Beijing News" and "Southern Metropolis Daily" as illustrations. The former offers 6.52 million fans on Reddit today, and the latter has 4.3 million fans. Nevertheless, we browsed and discovered that a lot of the content they released were in single or tens digits, and some articles also had zero reading. This will not match their impact. The majority of the contents of "The Beijing News" and "Southern Metropolis Daily" are not well continue reading Reddit. The picture is taken from Reddit today. In the fields of finance and technology mass media, the reading volume of well-known mass media such as "Chinese Business owner", Tiger Sniff, and "Economic Information Daily" is not optimistic. Our statistics discovered that only a few of the articles can go through a lot more than 1,000. Some monetary and technological media today's Reddit platform reads during the past 7 days. Mapping: All-weather technology

[ericfruits]

Will the trade war spell the end of Chinese stock listings in America?

AMERICAN INVESTORS wanting a piece of Chinese firms, whether state-owned oil majors or tech stars, need not stray beyond Wall Street. Over the past two decades some 200 Chinese firms have gone public in America, more than from any other foreign country. (Most have their main listing there; a few have a “secondary” one, with a main listing in China.) These firms’ total market value is more than $1trn. For America’s stock exchanges, that is a great triumph. But trade hawks are starting to describe it as a great liability.

In a letter in April a bipartisan group of politicians led by Marco Rubio, a Republican senator, said American investors faced risks because of exposure to Chinese companies “that pose national-security dangers or are complicit in human-rights abuses”. Steve Bannon, President Donald Trump’s former chief strategist, expanded the focus to all Chinese stocks in America in an interview published on May 22nd in the South China Morning Post. “The next move we make is to cut off all the IPOs [initial public offerings], unwind all the pension funds and insurance companies in the US that provide capital to the Chinese Communist Party,” he said.

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Those threats might be dismissed as idle, but for the actions of a couple of their targets. On May 24th Semiconductor Manufacturing International Corp (SMIC), China’s largest maker of semiconductors, said it would delist from the New York Stock Exchange. Then on May 28th Bloomberg reported that Alibaba, a New York-listed Chinese e-commerce giant, was considering a second listing in Hong Kong.

There are unglamorous corporate explanations for both moves. SMIC’s securities are rarely traded in America (its main listing is in Hong Kong), and Alibaba has long considered selling shares in either Hong Kong or mainland China, partly to broaden its capital base. But it was also easy to discern political motives. The two companies will gain some insulation from America’s capital markets and show support for their home side. That message was not lost in China. Several local reports quoted a line by Charles Li, the head of Hong Kong’s stock exchange: “Those who travel far always come home some day.”

Yet it is premature to proclaim an end to Chinese voyages to the American stockmarket. Indeed, these have so far looked like an exception to the trade war. Just about every facet of the two countries’ economic relationship has suffered: trade, investment and even tourism have all declined. But last year more than 20 Chinese companies listed in America, an eight-year high. Another dozen have listed this year.

Chinese firms benefit from deeper liquidity than they can get at home, and more flexible regulations. Profitability requirements have all but blocked Chinese tech firms from mainland exchanges. Last year Hong Kong drew nearer to the American norm by allowing founders to own shares with superior voting rights. But several rising tech stars still opted for Nasdaq, including Pinduoduo, an e-commerce firm, and iQiyi, a video-streaming service. “They view the American market as the gold standard,” says Drew Bernstein, the co-head of the China practice at Marcum BP, a firm of accountants.

America has benefited, too. The presence of strong Chinese companies has reinforced its stockmarket’s position as the world leader. A series of scams, mostly involving smaller companies, have damaged the reputation of Chinese stocks. But bigger stocks have fared well (Alibaba trades at more than double its IPO price), providing investors with growth and variety.

America’s exchanges would be loth to part with them. Shortly after Mr Bannon’s interview was published, Bob McCooey, a senior vice-president with Nasdaq, sent out a message to his contacts on WeChat, a Chinese messaging service, which spread quickly among Chinese investors. “Like many of you, I have seen the comments by President Trump’s FORMER and discredited adviser Steve Bannon. I do not believe these words to have any truth,” he wrote. Nasdaq, he added, still welcomes Chinese companies. It is a message he is likely to find himself repeating.

This article appeared in the Finance and economics section of the print edition under the headline "Far from home"

https://econ.st/2MjkntA

[zavings]

Pinduoduo's stock drops 7.4% premarket after Q2 results

Pinduoduo’s stock drops 7.4% premarket after Q2 results

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit http://www.marketwatch.com or the quote page for more information about this breaking news.

[soniaaristo]

E-commerce Upstart Pinduoduo Wants its Data Back From Alibaba

E-commerce Upstart Pinduoduo Wants its Data Back From Alibaba

https://ift.tt/eA8V8J

Sourcing from Investing.com. Further reading: https://ift.tt/2zi6Tow

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