Founded by Zhang Yiming, Liang Rubo and a team of others in 2012, ByteDance developed the video-sharing social networking services and apps TikTok and Chinese-specific counterpart Douyin. The company is also the developer of the news and information platform Toutiao ("Headlines"). As of June 2021, ByteDance hosts 1.9 billion monthly active users across all of its content platforms.
(WOWTIMES) ByteDance’s history and achievements
- 2009: software engineer and entrepreneur Zhang Yiming collaborated with his friend Liang Rubo to co-found 99fang.com, a real estate search engine.
- 2012: Yiming and Liang founded ByteDance. The company is also the developer of the news and information platform Toutiao. Toutiao hit 1 million daily active users four months after its launch. ByteDance also launched its first app, called Neihan Duanzi. This allowed users to circulate jokes, memes, and humorous videos.
- 2014: the company created the "Toutiaohao" (头条号) platform to attract more PGC (professionally generated content) and UGC (user generated content) creators; and later in the year, added video capabilities.
- 2016: Initially launched as Toutiao Video in 2016, Xigua Video (Chinese: 西瓜视频; pinyin: Xīguā shìpín) is an online video-sharing platform that features user-created short and mid-length videos and also produces film and television content. ByteDance AI Lab was established.
- 2017: ByteDance launches TikTok. Also acquires U.S. video app Flipgram and lip-syncing app Musical.ly.
- 2018: ByteDance integrates Musical.ly into TikTok. TikTok was initially popular in Asia and Musical.ly in the Americas and Europe.
- 2019: TikTok surpasses 1 billion downloads globally.
- 2020: TikTok hits 2 billion downloads globally. Morning Consult ranked TikTok as the third fastest growing brand of the year, after Zoom and Peacock. Douyin has more advanced features, such as e-commerce. As of August 2020, the app had 600 million daily active users.
- 2021, ByteDance acquired Pico, an Oculus-like virtual reality startup. ByteDance was estimated to be valued at $250 billion in private trades.
According to Wikipedia