A number of U.K.-based tech workers are choosing not to accept or pursue jobs at TikTok over fears that the company has an intense work culture with long and demanding hours. Six people in the industry told CNBC they either pulled out of interviews, turned down job offers, or left the company after learning that […] Read more
Chinese technology giant ByteDance is in early stage talks to list some of its businesses including Douyin, a person familiar with the matter. Last week, ByteDance spoke with investment bankers to explore the possibility of an initial public offering (IPO) for some of its divisions, the person said, without wanting to be named because the […] Read more
Walmart and Microsoft might seem like an unlikely partnership to acquire TikTok’s U.S. assets, but until very recently the retailer had other plans. Before teaming up with Microsoft in recent days, Walmart was part of a consortium put together by SoftBank Chief Operating Officer Marcelo Claure, which also included Google parent company Alphabet, according to people familiar with the matter. SoftBank’s Claure […] Read more
TikTok owner ByteDance made a net profit of $3 billion last year, according to a report from Bloomberg on Wednesday that cited people familiar with the matter. The fast-growing company more than doubled its revenue from $7.4 billion in 2018 to $17 billion in 2019, according to the report, which states that it also has a […] Read more
