![]() ![]() Search engine giant Baidu showed the risk of coalescing the greedy advertising business and the health business, which should in principle prioritize people’s lives over financial interest. It remains to be seen how ByteDance finds synergies between its entertainment empire and budding healthcare and biotech arm. ![]() ByteDance’s health business later came to be known as Xiaohe Health and its interest in the space is far-reaching, with a growing investment portfolio that includes a company that specializes in drug discovery and one that conducts DNA synthesis. The short video giant probably won’t take over Amcare’s management, but at best hook up its healthcare portfolio with the newly acquired company, which runs private maternity wards that are popular among China’s well-to-do and elites.īyteDance’s foray into healthcare, at least on public record, started in 2020 when it bought a company that provided health information to the masses. Alibaba and JD.com run online pharmacies. Tencent has tried opening brick-and-mortar clinics. TikToks extraordinary rise signals a more multipolar internet Despite criticism as either too trivial or too threatening, the Chinese-owned platform has. dabbling in the healthcare sphere as part of their diversification strategy when they’ve got the capital and user base to tap. It’s not uncommon, however, to see internet giants in both China and the U.S. For one, China has over the past few years ramped up anti-competition regulations on tech companies and blocked major consolidation deals, including Tencent’s proposal to combine the country’s top two livestreaming platforms for gamers.Īmcare’s expertise also seems tangential to ByteDance’s main business of a content machine that churns out snappy, addictive videos. The transaction is turning some heads in the tech industry. ByteDance is a technology company operating a range of content platforms that inform, educate, entertain and inspire people across languages, cultures and. Known as Douyin in China, the app is owned by. A spokesperson for Xiaohe Health, ByteDance’s healthcare business, confirmed the acquisition but declined to comment on the deal size. Critics have accused the app of posing a national security risk, a claim that TikTok has repeatedly denied. The buyout cost ByteDance $1.5 billion, according to Bloomberg. ![]() that owns social-media app TikTok, stepped down from his role as chairman of the. TikTok’s parent company ByteDance is making some pretty heavy bets on the healthcare space as it acquired Amcare, which runs high-end children’s and women’s hospitals across China. (2 minutes) SINGAPORE Zhang Yiming, the founder of ByteDance Ltd. ![]()
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