In brief: Bytedance solidifies its expansion into education

Bytedance, the Chinese creator of short-video app Tik Tok, is moving further into education.

The company has acquired patents from China smartphone maker Smartisan to “explore the education business,” it said in a statement. As part of the deal, some Smartisan employees will join Bytedance in what the latter calls a “normal flow of talent.”

Bytedance, which is reportedly valued at US$72 billion, had made moves toward education before. It launched English tutoring platform Gogokid in May and also launched a paid learning app Haohao Xuexi (“study well”) early this year.

This comes as the company struggled to reach its 2018 revenue target amid an advertising slowdown in China.

Source: South China Morning Post