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ByteDance dissolves investment unit as China reportedly tightens venture oversight for internet firms

January 20, 2022
Source: internetdo.com internetdo.com
News Snapshot:
ByteDance has dismissed its entire strategic investment arm, 36Kr reported Wednesday, citing a former employee. The investment arm’s staff and its head, Zhao Pengyuan, may be reassigned to the company’s strategic business unit. Moving forward, ByteDance’s investment arm will no longer be an active division of the company. Chinese media outlets reported that the internal reassignments within ByteDance may be the consequence of new rules drafted by the Cyberspace Administration of China (CAC),... [ Please, visit website http://internetdo.com ]
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Tags: 36Kr | ARM | Business | ByteDance | China | Chinese | Cyberspace Administration of China | employee | Internet | investment | media | News Media | online video | staff | technology | website

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