Tag: Owner

TikTok Owner ByteDance Launches Education Technology Brand Dali for China | Investing News

By Yingzhi Yang and Brenda Goh

BEIJING (Reuters) – Beijing-based ByteDance announced a standalone education technology (edtech) brand Dali for the Chinese market on Thursday, becoming another major tech player looking to capitalise on the sector’s boom driven by the COVID-19 pandemic.

Dali, meaning “forceful strength” in Chinese, will host all the education business of ByteDance and already has 10,000 employees, Dali Chief Executive Chen Lin told a press conference in Beijing.

ByteDance founder and chief executive Zhang Yiming said in a statement: “We started to develop interests in the education industry very early on. The brand independence of Dali

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TikTok Owner Says It Wasn’t Aware Deal Included $5 Billion ‘Education Fund’

ByteDance's Beijing headquarters. (Photo: GREG BAKER via Getty Images)
ByteDance’s Beijing headquarters. (Photo: GREG BAKER via Getty Images)

ByteDance, the China-based company that owns video-sharing app TikTok, said it was not told that $5 billion of its deal with Walmart and Oracle would go to President Donald Trump’s so-called “patriotic education” initiative. 

Trump told a campaign rally Saturday that money from TikTok’s sale would fund his proposal to educate children about “the real history of our country ― the real history, not the fake history.”

Trump also gave his blessing to the sale of TikTok’s U.S. operation to Walmart and Oracle, corporations with major Trump campaign donors in senior

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