Photo by Solen Feyissa on Unsplash
TikTok's parent company ByteDance quietly launched its BytePlus division, which is in charge of selling TikTok's technology, including its recommendation algorithm, computer vision tech, automated translations, real-time effects and more. The division is based in Singapore, but it has a presence in Hong Kong and London. BytePlus is also looking to register trademarks in the US.
Companies like Indonesian online shopping company Chilibeli, American fashion app Goat, and travel site WeGo have bought access to TikTok's tech. It isn't a surprising move as it helps ByteDance compete with the likes of Amazon and Microsoft to offer behind-the-scenes tools to businesses and open a new revenue source for the company.
Source: Engadget