New York Times:
Under increasing pressure in the US, ByteDance and TikTok shift their strategy for dealing with officials by going on the offense and speaking out publicly — Keeping its head down has not paid off for the company, which now faces regulatory pressure on many fronts. So it is starting to speak out.
Wall Street Journal:
Sources: ByteDance plans to expand its Resso music streaming service globally, starting with over a dozen markets excluding the US, and integrate it into TikTok — Company is negotiating with labels as it seeks more than a dozen new global markets — TikTok parent ByteDance Ltd …
New York Times:
Former TikTok and ByteDance staff say TikTok CEO Shou Zi Chew’s power is limited, with ByteDance’s founder and other executives making most decisions — Shou Zi Chew, TikTok’s chief executive, is balancing how to be an autonomous leader while juggling the demands of the app’s Chinese parent company.
Zheping Huang / Bloomberg:
Kuaishou reports Q3 revenue up 12.9% YoY to ~$3.2B, beating estimates, and a ~$378M net loss, holding its own against ByteDance and China’s slowing economy — Kuaishou Technology’s revenue beat estimates, holding its own against a slowing Chinese economy and competition from TikTok owner ByteDance Ltd.
Emily Baker-White / Forbes:
Web novel apps backed by ByteDance and Tencent are running hundreds of Facebook and Instagram ads showing sexual assault, violent erotica, and acts of self-harm — Some of the ads include descriptions of sexual violence, paired with images of battered women and photos of male fitness influencers, which were used without permission.
Wall Street Journal:
Sources: the US-TikTok national security deal faces further delays as US officials fret over the app’s risks; both sides agree Oracle will host TikTok’s US data — Officials and executives had hoped for year-end deal to address national-security concerns over social-media platform
Coco Feng / South China Morning Post:
Sources: ByteDance CFO told staff that it has no plans to go public; report: CEO Liang said the company plans to reduce input into noncore businesses — TikTok ‘s parent company ByteDance , the world’s most valuable unicorn, has no plans to go public, its chief financial officer told employees …
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