Bytedance

Bytedance

Company profile: In 2012, Zhang Yiming founded Bytedance in Beijing. In the same year, Toutiao was launched. In 2016, Douyin, a short video platform owned by Byte, was launched. In 2017, the overseas short video social platform Tiktok was launched, Toutiao Video was renamed Xigua Video, and Toutiao Q&A was renamed Wukong Q&A. The office platform Feishu is online, and the car service platform Dianchedi is online.

In 2019, Byte launched a commercial platform massive engine, and social platforms were launched in multiple flashes. In 2020, the company's enterprise technology service platform Volcano Engine was launched. In 2021, Byte acquired VR start-up Pico. In 2022, ByteDance launched a new logo and changed its name to Douyin Group. The company ranked first in the "Global Unicorn List in 2022".

Business Segment

★ByteDance has not yet been listed on the market, so the revenue data comes from the Internet and has not been officially responded to, and is for reference only. In 2021, the company achieved operating income of approximately 439.16 billion yuan, a year-on-year increase of approximately 80%.

★Specifically looking at each business, advertising revenue is about 300 billion yuan, live broadcast revenue is about 80 billion yuan, and overseas and other business revenue is about 60 billion yuan.

Product Introduction

★ ByteDance is a comprehensive Internet information technology company, with business covering short videos, information distribution, education, automobiles, games, enterprise services and other fields.

★Douyin is the company’s core product and a short video platform. As the number of users gradually increases, it has developed into a comprehensive community integrating social networking, local life, music, e-commerce, and live broadcasting. As of September 2022, monthly active users have reached 706 million.

★The second largest product is Toutiao, which is also the company’s first product. Toutiao is a general information platform, including graphics, videos, questions and answers, novels, live broadcasts and other content structures. It also covers multiple content areas such as technology, sports, health, food and so on. The current monthly active users are 354 million.

★Xigua Video is a PUGC video platform. Compared with Douyin, the content is more professional and the video time is longer. The current monthly active users are 127 million.

★Understanding Chedi is a car information and service platform, dedicated to providing professional car content and car selection services. Currently, its monthly active users are approximately 44.5 million.

★Feishu is a collaborative office tool developed by the company, which integrates functions such as meetings, documents, and cloud disks. It currently has nearly 10 million monthly active users.

★The following is ByteDance’s core product matrix.

Business Model

★ ByteDance’s main revenue comes from Douyin. Taking Douyin as an example, the platform mainly includes creators, anchors, users, merchants, and brands. , service providers, institutions and other roles.

★Creators create content and earn income from advertising and product sales, while anchors conduct live broadcasts and earn income from rewards and sales. Service providers and institutions rely on services and contracts with anchor creators to obtain a share of the revenue. Merchants provide high-quality products to the platform and earn revenue from product sales. The platform takes a commission from the revenue from relevant links.

Core Executives

Zhang Yiming: Born in 1983 in Longyan, Fujian Province. He graduated from Nankai University in Software Engineering in 2005. He is the founder and former CEO of ByteDance. He has founded many companies such as Jiujiufang. In 2012, he started his fifth business and founded ByteDance. He resigned as CEO of Toutiao in 2018 and CEO of ByteDance in 2021. In 2022, he ranked second in the "2022 Forbes Mainland China Rich List" with a wealth of US$49.5 billion.

Liang Rubo: Born in 1983 in Yichun, Jiangxi Province. He graduated from Nankai University in 2005, majoring in microelectronics. Co-founder of ByteDance and current CEO of ByteDance. In 2009, he co-founded the vertical real estate search engine Jiujiufang with Zhang Yiming***. In 2012, he co-founded Bytedance with Zhang Yiming and served as the head of product research and development. In 2021, Zhang Yiming will be replaced as the new CEO of ByteDance.

In 2022, he ranked 1,341st on the "2022 Forbes Global Billionaires List" with a wealth of US$2.3 billion.

Organizational Structure

★Starting from November 2021, Byte will implement BU-based business lines and establish six business sectors, namely Douyin, which is responsible for domestic information and services , Dali Education, responsible for education services, Feishu, focused on enterprise collaboration and management, Volcano Engine, focused on enterprise service cloud platform, Zhaoxi Guangnian, focusing on the game sector, and TikTok, responsible for overseas business.

Environmental Society and Governance

★Advocate green life and build green homes. Select data centers in areas rich in clean energy such as wind energy and solar energy. Use wind energy and solar energy in 2021 Green electricity reaches nearly 100 million kWh. In 2021, 60 of the company's shuttle vehicles will be new energy vehicles, which will reduce carbon emissions by a total of 132.44 tons. In 2022, they will all be replaced by new energy vehicles, which is expected to reduce carbon emissions by 215.32 tons.

★Promote the construction of content with high social value

★Knowledge: Invite various famous universities to settle on its platform. In 2021, the enrollment rate of double first-class universities will reach 92, with 14,463 broadcasts held by universities, and open classes The total time is 1.45 million hours.

★Art: Continue to introduce well-known artists to provide richer artistic content. In 2021, eight art institutions including the National Art Museum of China and Mumu Art Museum jointly launched the "DOU Come to the Exhibition" campaign with Douyin, displaying exhibits online through short videos, special effects, and live broadcasts.

★Culture: Initiated projects such as intangible cultural heritage partners. In 2021, the number of related videos will exceed 100 million, and the number of video views will be 335.4 billion times. At the same time, an initial investment of 10 million yuan will be used to promote the protection of ancient books.

★Protect the rights and interests of employees and support their growth by launching the "Spark Plan" to help newcomers quickly integrate into the work environment through offline training and online technology competitions. Create a "Byte Learning" platform to provide employees with rich learning content and accelerate growth and development. At the same time, various measures such as air testing and fresh air system improvements are taken to reduce damage to the office space and improve satisfaction.

Knowledge refining

Short video: It is a form of communication of Internet content. The duration is generally less than 1 minute, the format is mostly vertical, and the content is biased toward entertainment and life. Most of the producers are users themselves.

Medium videos: The duration is generally between 1 and 30 minutes, mainly horizontal, and the content is richer than short videos, mostly popular science and knowledge. The professional level of the producer is higher than that of shorter videos.

Long videos: videos of more than 30 minutes, usually variety shows, film and television dramas, etc. The professional level of the producers is also the highest.

UGC: The full name is User Generated Content, which is user-generated content. Producers are users of the platform and are generally more personalized.

PGC: The abbreviation of Professional Generated Content refers to professionally produced content. This type of content classification will be more professional and the quality of the content will be more guaranteed.

Recommendation algorithm: It is the core of the successful operation of content distribution platforms such as Douyin and Toutiao. The recommendation algorithm accurately matches people and content based on their tags, thereby improving user satisfaction.

User portrait: It is a series of data used to describe the user, including the user's attributes, interests and hobbies, living habits, behavior and other information. It is used to abstract people and facilitate algorithm processing.

Content tag: a series of data used to describe content. Data including likes, comments, and reposts of graphic and text short videos, length of stay in the live broadcast room, order volume, rewards, etc. are used to abstract the content to match users.

Traffic pool: a mechanism for distributing traffic on many content platforms. Initially, the content will generally be given 300 to 500 traffic, and based on the interactive data algorithm, it will be judged whether to push the content to a larger traffic pool.