Futu Information reported on May 9 that according to public information, ByteDance (Hong Kong) Co., Ltd. has changed its name to Douyin Group (Hong Kong) Co., Ltd. on May 7, and the effective date is May 6, 2022.
Source: Official website of the Hong Kong Registry
In addition, according to the Tianyancha APP, several other companies under ByteDance have also changed their names to “Douyin” one after another. Bytedance Co., Ltd. changed its name to Douyin Co., Ltd. According to the National Enterprise Credit Information Publicity System, Beijing ByteDance Technology Co., Ltd. changed its name to Beijing Douyin Information Service Co., Ltd.
Source: Tianyancha
Regarding ByteDance’s intensive company name change, market analysts believe that this may be ByteDance’s intention to go public in Hong Kong with Douyin as its main business entity. Regarding the intensive name change and listing related news, the relevant person in charge of Douyin said that they would not comment.
In fact, it was reported as early as 2020 that ByteDance was studying the spin-off of Douyin and listing in Hong Kong, and negotiating listing arrangements with investment banks such as Goldman Sachs. On April 23, 2021, ByteDance stated on its official headline account, “After careful research, it is believed that the company does not have the conditions for listing, and there is no listing plan at present.”
At present, some people in the industry said that at present, factors such as international business changes, capital investment returns, and listing windows are superimposed, and ByteDance’s split Douyin will be listed separately or put on the agenda again.
The Tianyancha APP shows that there are 35 core companies under the ByteDance Group, of which only the main company ByteDance Co., Ltd. has changed its name to Douyin Co., Ltd., and the other company names have not changed. For example, today’s headline product affiliates still maintain their original names. .
In November last year, ByteDance CEO Liang Rubo announced the establishment of six business segments, namely Douyin, Dali Education, Feishu, Volcano Engine, Chaoxi Guangnian, and TikTok. The Douyin business segment is responsible for the overall development of the company’s domestic information and service businesses, including Douyin, Toutiao, Xigua Video, Search, Encyclopedia and other vertical service businesses. Douyin and Toutiao, two core products, contributed most of ByteDance’s domestic revenue.
On April 25 this year, ByteDance CEO Liang Rubo announced in an internal letter to all staff that Julie Gao, a senior partner at Skadden, was appointed as CFO, with his main offices in Hong Kong and Singapore. According to the data, Micro Motion has provided legal services for more than 100 companies in the listing and other capital market financing projects, including Meituan, JD.com, Pinduoduo, Xiaomi, etc.
According to public information, ByteDance has completed at least 9 rounds of financing. The institutions involved in the investment include Sequoia Capital, Haina, Tiger Global Fund, General Atlantic Capital, kkr, Primavera Capital, SoftBank, DST, etc., with a cumulative financing of tens of billions of dollars. Dollar.
Source: Tianyancha
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