In recent years, TikTok has sensationalized the Internet, becoming an important source of entertainment for many around the world. Yet, while TikTok has taken the Internet by storm, many are unaware that its parent company, ByteDance, is more than meets the eye.
Founded by current CEO Zhang Yiming in Beijing in 2012, ByteDance has quickly become a frontrunner in Artificial Intelligence (AI) and machine learning. All of its products and platforms are powered by the company’s intelligent machines, which utilize computer vision and natural language processing technology to analyse written content, images and videos. The machines are then able to identify and deliver content they believe each user would want, resulting in a highly personalised experience. The more a user interacts with the content, the more algorithms can be refined through machine learning and deep learning to deliver high-quality content that is uniquely catered to each user’s preferences and interests. This complex process explains why scrolling through TikTok and Douyin has become so addictive for many users, despite the fairly short duration of each video.
Despite being newer to the game than competitors like Tencent and Sina, ByteDance has achieved astounding success in the industry. Business Insider reported that as of January 2020, ByteDance is valued at US$75 billion, making it the most valuable startup in the world. It has also received investments from some of the biggest VC firms globally, including SoftBank, Sequoia Capital and General Atlantic. Dedicated to staying a leader in AI in China and ultimately globally, ByteDance is definitely a company that all businesses, organizations and investors alike should keep tabs on in the upcoming years. We dive a little deeper into five of ByteDance’s top performing content platforms.