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TikTok's Parent Company ByteDance In Talks To Sell Gaming Assets To Tencent: Report
Tuesday, January 9, 2024 - 2:26am | 602In a significant development, ByteDance, the company behind the popular social media platform TikTok, is reportedly engaged in discussions to sell its gaming assets to Tencent (OTC:TCEHY). What Happened: ByteDance is in conversation with potential buyers for its gaming assets, Reuters reported on...
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What's Going On With Alibaba Stock Monday?
Monday, January 8, 2024 - 8:26am | 662Alibaba Group Holding Limited (NYSE: BABA) stock is trading lower Monday amid reports of its intentions to reduce its orders of Nvidia Corp's (NASDAQ: NVDA) chips compared to its original plans when Nvidia offered its now-restricted products. The reluctance from...
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Threat For Amazon? TikTok Planning Massive US E-Commerce Expansion With $17.5B Revenue Goal: Report
Thursday, January 4, 2024 - 12:55am | 729ByteDance Ltd-owned TikTok is reportedly planning a massive expansion of its U.S. e-commerce business. The Chinese social media powerhouse aims to reach revenues of $17.5 billion, posing a unique threat to the e-commerce behemoth Amazon.com Inc (NASDAQ:AMZN). What Happened: Insiders revealed that ...
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JD.Com Gears Up For Significant Pay Increases Despite Volatility In Chinese Consumer Trends
Thursday, December 28, 2023 - 4:49am | 604In a surprising move, Chinese e-commerce behemoth JD.com Inc (NASDAQ:JD) has disclosed plans for significant salary increments for its workforce in 2024, notwithstanding a volatile Chinese consumer market. What Happened: JD.com is set to nearly double the fixed salaries of its procurement, sales,...
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OpenAI Suspends TikTok-Parent ByteDance After It Used GPT To Train Its Own 'ChatGPT Of China'
Friday, December 15, 2023 - 11:42pm | 549Sam Altman-led OpenAI has suspended TikTok-parent ByteDance for using GPT to train its own competing AI model to create the "ChatGPT of China." What Happened: ByteDance admitted to using OpenAI's GPT to train a competing AI model in China, violating the developer license of Microsoft Corp. (NASDAQ:...
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JD.com's Founder Sounds the Alarm: Can New Strategies Revive the E-Commerce Giant?
Tuesday, December 12, 2023 - 8:25am | 492JD.Com, Inc (NASDAQ: JD) founder Richard Liu called for significant changes within his company, echoing a similar sentiment recently expressed by Alibaba Group Holding Ltd (NYSE: BABA) founder Jack Ma. Liu responded to an employee's post on a JD.com forum,...
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TikTok Pumps $1.5B Into Indonesia's GoTo Group To Revive Shopping App
Monday, December 11, 2023 - 6:10am | 557TikTok, a subsidiary of ByteDance Ltd., is set to inject $1.5 billion into a partnership with Indonesia’s GoTo Group. This collaboration, announced on Dec. 11, 2023, will enable the Chinese social media behemoth to relaunch its shopping application in its primary online retail market. What...
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Google Fires Biggest Salvo Against OpenAI With Gemini — And TikTok Parent Says 'More Powerful' Model Coming Anytime Now
Thursday, December 7, 2023 - 8:42am | 766After being on the backfoot throughout 2023 in the AI race, Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google announced Gemini, its biggest salvo yet against OpenAI's ChatGPT. But TikTok parent ByteDance is already breathing down Google's neck. What Happened: TikTok parent ByteDance is gearing up...
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ByteDance Declares 'Game Over' For Gaming Division
Tuesday, December 5, 2023 - 12:39pm | 1103Key Takeaways: ByteDance will phase out its Nuverse gaming division, laying off hundreds of employees and terminating all ongoing gaming projects by the end of the year The internet giant’s decision follows previous similar scale-backs in its education, real estate and virtual reality...
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What's Going On With Alibaba Stock Thursday?
Thursday, November 30, 2023 - 8:37am | 460Alibaba Group Holding Ltd (NYSE: BABA) is on the verge of losing its title as China's most valuable e-commerce company to PDD Holdings Inc (NASDAQ: PDD), an eight-year-old competitor. Alibaba's market value in Hong Kong dropped to about $187 billion, closely...
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TikTok's Parent Company ByteDance To Fire Hundreds, Pulls The Plug From Gaming
Monday, November 27, 2023 - 11:36am | 577In an unexpected turn, TikTok’s parent company, ByteDance Ltd. is preparing to bid farewell to the gaming industry by shutting down its principal brand, Nuverse, and eliminating hundreds of jobs. This decision puts its competitor, Tencent Holdings Ltd., in a more advantageous position. What...
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Does TikTok Help The Music Industry? Study Shows Increased Live Event Attendance, Spending Habits
Tuesday, November 21, 2023 - 6:45pm | 369A recent TikTok-commissioned study by entertainment analytics firm Luminate shed light on the app's significant impact on the music industry. The report highlighted TikTok users were more engaged with music compared to the average listener, demonstrating behaviors that benefit artists...
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Is Joe Biden Joining TikTok: How The Move Could Help With 2024 Election, Cause Controversy With Calls To Ban App
Friday, November 17, 2023 - 5:54pm | 623President Joe Biden is 80 years old and his age has been one of the question marks ahead of the 2024 presidential election. In a push to appeal to younger voters, Biden may be turning to a newer social media platform. What Happened: Biden currently trails Republican presidential frontrunner Donald...
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TikTok And YouTube Under Scrutiny: EU Reportedly Seeks Clarity On Child Safety Measures
Wednesday, November 8, 2023 - 9:43pm | 712The EU’s industry chief, Thierry Breton, is set to seek information from Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL)YouTube and ByteDance-owned TikTok regarding their child protection policies. This move is part of a wider effort to ensure the tech...
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EU Regulators To Discuss Data Protection And Disinformation With TikTok CEO Shou Zi Chew
Friday, November 3, 2023 - 11:09pm | 723In a significant development, TikTok CEO Shou Zi Chew is scheduled to hold discussions with EU regulators next week. The meetings will focus on critical issues such as data protection, disinformation and competition regulations. What Happened: As reported by Bloomberg...