ByteDance’s Douyin Group Establishes New “Toutiao” Firm, Adding to IPO Rumors
A new subsidiary of Chinese tech giant and TikTok owner ByteDance was established on Monday, named “Beijing Toutiao Information Technology Co., Ltd.,” with legal representative Luo Lixin and a registered capital of 1 million yuan ($148,894).
Public information shows that the company is indirectly wholly-owned by Douyin Group (HK) Limited…
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