TikTok parent ByteDance said to raise $1.45 billion for AI and content
The fresh vehicle will help power artificial intelligence and media content for the $75 billion startup that has
The Chinese startup has set off an aggressive global expansion that sees it merge teen video app
In China, a fold of ByteDance’s media products — ranging from short-video platforms, a news portal to a humor app — have been in hot water with media watchdogs who are tightening control over online content. The harshest punishment arrived when the government shuttered Neihan Duanzi, literally meaning “implied jokes” in Chinese, for charges of propagating “vulgar content”.
The Beijing-based media company is seeking capital from government-led funds and state-owned investment banks for its new venture fund, according to The Information.
The gesture could help six-year-old ByteDance navigate relationships with local authorities. Meanwhile, it has already hired thousands of censors to ensure its content does not deviate from China’s official guidelines, though the startup has long prided itself on its AI prowess to make personalized recommendations to users.