Economic Observation Network reporter Ren Xiaoning On January 19, a screenshot of ByteDance's dismantling of the investment department was circulated online, and on this screenshot message, the Economic Observer Network reporter first asked ByteDance for official verification, and the relevant person in charge of ByteDance responded to the reporter that the company took stock of the business at the beginning of the year and analyzed the business, decided to strengthen business focus, reduce investment with low synergy, disperse the staff of the strategic investment department into various business lines, and strengthen the cooperation between strategic research functions and business. Planning discussions are also underway for the business and teams involved.
ByteDance's investment business was a business that the company had since 2014. According to Tianyancha data, In recent years, ByteDance Group has invested more than 100 projects (including domestic and overseas markets) and 403 foreign investment-affiliated enterprises, covering a wide range of fields, including enterprise services, entertainment media, artificial intelligence, insurance brokerage, digital technology, education and training, medical services, real estate services, advanced manufacturing, finance, automobile transportation, e-commerce, etc. Among them, There are 138 investment dynamics of ByteDance's strategic investment department.
In 2022, in less than 1 month, ByteDance participated in the investment of 5 companies, including the acquisition of ticketing platform "Shadow Tuobang" and the comic platform "Always Reading Comics", investment in AI industry SaaS software service provider Seshu Technology, and investment in "Li Weike" layout XR track.
From its inception in 2012 to the end of 2020, In the past 8 years, ByteDance's strategic investment team has invested in 105 projects. A data that can be compared and referenced is that in the same time, Meituan invested 53, Didi invested 40, and Kuaishou invested 29.
For ByteDance's layoff of investment, another voice is asking, will Alibaba and Tencent follow suit in laying off the investment department? Compared with Alibaba and Tencent, Byte, although the investment is brilliant, is still a junior. According to the statistics of New Fortune in November last year, through investment and mergers and acquisitions in recent years, Tencent and Alibaba have each built an ecosystem with a market value of 10 trillion yuan, which has expanded 10 times in five years. The reporter asked Tencent and Ali whether they would lay off the investment department, and as of press time, there was no response.
It is understood that byteDance investment system is divided into two parts: war investment and financial investment, and for most of last year, the investment business was reported to Zhou Yuzi. In March last year, Zhou Resigned as Executive Director and President of Xiaomi's International Department, announced that he would join ByteDance as CFO, and at the end of April last year, he also served as CEO of TikTok, mainly responsible for TikTok corporate governance and long-term business planning. In November last year, Zhou was no longer the CFO of ByteDance.
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