ByteDance to invest in education technology business

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A senior executive at TikTok owner ByteDance said the company plans to invest 'a huge amount' of capital into its newly-established education technology business but warned that the unit will be unlikely to profit in the next three years.

FILE PHOTO: A man walks by a logo of Bytedance, the China-based company which owns the short video app TikTok, or Douyin, at its office in Beijing, China July 7, 2020. REUTERS/Thomas Suen/File Photo

Beijing-based ByteDance has made education technology one of its top priorities alongside short video app TikTok, which is facing scrutiny in Washington over suspicions China could force the company to turn over user data. ByteDance operates one-on-one English tutoring app GoGoKid and online course livestreaming app Qingbei.

 

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Too late, LinkedIn Learning, Udemy and Coursera are big playes in that space.

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