![]() It provides a glimpse of what TikTok could eventually become, as Douyin started selling merchandise in 2017 and now operates a growing e-commerce operation where hundreds of millions of users shop on a daily basis. The company, which denies the allegation, has been in talks for months with Walmart Inc WMT.N and Oracle Corp ORCL.N to shift such assets into a new entity.ĭouyin is the main revenue generator for ByteDance. Hezhong Yibao obtained a third-party payment license from the central bank in 2014.īyteDance has been ordered by the outgoing Trump administration to divest TikTok's U.S. In March, ByteDance complained that WeChat had started blocking links to its enterprise messaging app and productivity tool Feishu.Users of Douyin, which accumulated 600 million daily active users, previously could use Ant Group's 688688.SS Alipay and Tencent Holdings' 0700.HK WeChat Pay, the country's two ubiquitous third-party mobile payment channels, to buy virtual gifts for livestreamers or items from shops on the platform.īyteDance founder and CEO Zhang Yiming built up the company's payment capability in China by acquiring Wuhan Hezhong Yibao Technology Co last year.SAMR had previously proposed an overhaul of the Anti-Monopoly Law in January and introduced a set of antitrust guidelines tailored for the internet industry in November.It also last week launched its e-wallet Douyin Pay and added it to its short-video app to compete with Alipay and WeChat Pay, which collectively take up over 90 of China’s digital payments market. In December, the State Administration of Market Regulation (SAMR), China’s top antitrust regulator, issued fines to Alibaba and affiliates of Tencent and logistics giant SF Express over three separate acquisition deals, a move that legal experts described as the country’s first batch of antitrust enforcements against tech firms. As online education saw significant growth in China during the pandemic, ByteDance launched its ed-tech brand Dali Education. Tencent said Douyin had acquired WeChat users’ personal information by “means of unfair competition” and had breached the platform’s rules.Ĭontext: China has ramped up antitrust regulations in the tech industry in recent months.Tencent said in a statement that ByteDance’s accusations were “false” and that the company will bring a countersuit.There are no other operators that provide services that rival WeChat and QQ, ByteDance said, meaning that Tencent enjoys a “market-dominant position”-the threshold for citing the Anti-Monopoly Law in court. Users of Douyin, which accumulated 600 million daily active users, previously could use Ant Group's 688688.SS Alipay and Tencent Holdings' 0700.HK WeChat Pay, the country's two ubiquitous third.The Beijing-based firm is also seeking compensation of RMB 900 million (around $13.9 million) from Tencent. ByteDance asked the court to require Tencent to cease such behavior and make a public apology. After ByteDance secured rights for its short video app Douyin to sponsor the most-watched TV programme in the world, it committed to giving away 1.2 billion yuan (US186 million) in red packets.Tencent’s practice, it said, ran afoul of the Anti-Monopoly Law’s provision of forbidding “misusing a market-dominant position, and antitrust behavior of excluding and restricting competition” (our translation).READ MORE: China’s tech giants aren’t ‘immune’ to antitrust any moreĭetails: ByteDance has filed a lawsuit with the Beijing Intellectual Property Court, accusing Tencent of violating China’s Anti-Monopoly Law by restricting WeChat and QQ users from sharing Douyin’s short-video content, the company said on Tuesday. It makes most of its money selling ads in its two main Chinese apps: Douyin, a Chinese TikTok, and Toutiao, a multimedia-and-news app akin to Facebook’s newsfeed (its WeChat rival, Duoshan. ![]()
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