Could a Hong Kong Listing for Douyin Mean an Even Greater Focus on Asian Expansion?
Just as Alibaba spinoff Ant Group prepares for what is set to be the world’s biggest-ever IPO, expected to raise $34 billion through a dual listing in Hong Kong and Shanghai, Beijing-based Bytedance is reportedly planning to list its popular app Douyin—TikTok’s counterpart in the China market—in Hong Kong. According to Reuters, Bytedance is in preliminary discussions with investment banks regarding a standalone IPO for the app, which surpassed 600 million daily active users (DAUs) in August, up from an estimated 400 million at the beginning of 2020. While details remain sketchy, and Bytedance has yet to make any firm statement, such a move would be the latest “near-to-home” listing for a major Chinese tech player. Read more Content Commerce Insider
Baidu Is About to Close the $4 Billion Deal to Take Over Joyy’s China Unit
China’s live-streaming industry has experienced rounds of far-reaching changes this year with the shutdown of Tentacle Live-streaming, the historic merger between Douyu and its rival Huya initiated by Tencent, and now an acquisition of Joyy’s China operations by Chinese search giant Baidu. Baidu is reportedly nearing a deal to acquire the China unit of the U.S.-listed Chinese video streaming social platform Joyy in an attempt to diversity its revenue streams and boost its livestream business. Considering that the live-streaming is already a red-hot sector, will this acquisition help Baidu successfully tap into the live-streaming business? Read more Vision Insight