Give Everyone a Byte
So that's why Bytedance pre-IPO sellers won't budge on their valuations. We had thought that, Biden backoff on banning Tiktok or no, the company was still in flux, what with the CEO stepping down, and rumors of a Douyin (Tiktok) spinoff. Surely shareholders would be open to some realistic numbers.
But bandying numbers with Bytedance is like bandying words with Chomsky. Those who think of it as an inexplicably popular iteration of Snapchat aren't aware of the secret weapon: the algorithms. Their scarily accurate ability to predict which ditzy dance or dorky prank will knock your socks off has applications far beyond social media, apparently.
So Bytedance is officially introducing Volcano Engine, Unofficially, it's been helping JD and some other companies use their data to be stickier than sidewalk bubblegum on a summer's day.
"True, Tiktok growth is slowing," says Edward Lehman, "but it's apparent Bytedance never had its sights set on the platform as its only eternal golden goose. Their technology has a wide range of applications. As long as they can help other enterprises use it for their own transformation, the company should have many new exciting verticals."