Beijing time on June 7th news, people familiar with the matter said that ByteDance is considering selling a minority stake in Poizon, an online platform for tide shoes .
ByteDance is in talks to sell a lower single-digit percentage stake, preferring to sell to existing investors, people familiar with the matter said. Dewu is a trendy online shopping community launched by Shanghai Shizhuang Information Technology Co., Ltd., with a valuation of more than 10 billion US dollars (about 66.5 billion yuan). Dewu website shows that its monthly active users exceed 100 million , and Nike, Adidas, and Nintendo are its brand partners.
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ByteDance’s potential deal to divest its stake in Dewu has been slow to move forward following a restructuring of its investment arm earlier this year. At present, the negotiations are still in the early stage , and ByteDance may still decide to retain a minority stake in Dewu. Representatives for ByteDance and Dewu were not available for comment .
ByteDance has pulled out of several investments and streamlined its business over the past year. The company sold its stake in Indian news aggregator VerSe Innovation Pvt earlier this month, local media Mint reported. In February, ByteDance agreed to sell its trading app to a local brokerage .
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