ByteDance’s financial landscape is officially formed.
Editor’s note: This article is from the WeChat public account “Investment World” (ID: pedaily2012), author Yang Jiyun.
Byte Beat is going to lend?
A few days ago, it was reported that Toutiao, a subsidiary of Bytedance, had obtained an online microfinance license in Shenzhen-Shenzhen Zhongrong Microfinance Co., Ltd. In addition, the financial team of ByteDance is already using Zhongrong Microfinance to negotiate cooperation with many financial institutions on the market.
The investment community (WeChat ID: pedalily2012) asked ByteDance for verification, and the other party said: No comment. However, public information shows that in March this year, Shenzhen Zhongrong Microfinance Co., Ltd. saw the figure of digital beating executives in the change of senior management personnel. They have entered the small loan company as directors, general managers, and directors.
So far, the always-secret ByteDance financial landscape has begun to attract outside attention. Up to now, ByteDance’s financial layout involves small loans, insurance brokers, and securities investment consultants. Through its products, Understand Auto has entered the auto finance market, and has registered Wuxian installment, multi-flash payment, light chestnut installment, and byte payment. Many other trademarks are frequent but very low-key.
In the past month, TikTok’s overseas difficulties caused the invincible Bytedance to slam the brakes, and the valuation of hundreds of billions of dollars may also be affected. It is reported that ByteDance has indicated to some investment institutions that the company plans to focus more on the growth of the Chinese market by expanding into new areas and trying to develop a new popular APP.
The industry is curious about whether the next battlefield of ByteDance will be the financial sector that has yet to be developed?
3 years ago, the application failed, Now, Bytedance finally won the online microfinance license
Shenzhen again. Last month, Shenzhen Toutiao spent 1.1 billion on land purchases, which caused an uproar. Now ByteDance has been exposed to the Shenzhen-based company and obtained a small online loan license.
Comprehensive reports from all parties: Today’s Toutiao, a subsidiary of ByteDance, has obtained an online microfinance license in Shenzhen-Shenzhen Zhongrong Microfinance Co., Ltd. (hereinafter referred to as “Zhongrong Microfinance”), registered The capital is 400 million yuan. The investment community sought confirmation from Bytedance, but the other party said it would not comment.
Checking the information of Tianyancha, we can see that Zhongrong Microfinance was established in June 2012. At the beginning of its establishment, it mainly specialized in small loans in Shenzhen.Ban TikTok.
The United States and India are precisely the two markets where Bytedance has the most overseas users. In the first quarter of this year, Bytedance’s advertising revenue exceeded 40 billion yuan (approximately US$5.7 billion), and TikTok contributed a lot. The management of ByteDance is also looking for ways to maintain business in the United States and India. A person familiar with Zhang Yiming’s thoughts revealed that ByteDance is currently unlikely to consider selling TikTok. The insider said: Zhang Yiming still has the determination to build a global company.
The alert and the latest actions of byte beating revolve around all aspects. Recently, according to The Information report, a ByteDance investor stated that ByteDance has indicated to some investors that the company plans to focus more on the growth of the Chinese market by expanding into new areas and trying to develop a new popular application. program.
Field expansion is not new to ByteDance. This behemoth with a valuation of over $100 billion has been trying to break farther boundaries. Its tentacles are in all walks of life: news, short videos, live broadcasts, e-commerce, social networking, variety shows, online dramas, online literature, film distribution, entertainment brokers, music streaming, audio, K12 education, English learning, electronics Signatures, enterprise-level applications, finance, games, search, smart hardware, AI, Internet of Vehicles, cloud services… Sitting on a steady stream of traffic, the byte-beating territory is endless.
In March of this year, during the major adjustment of Bytedance’s organizational structure, Zhang Yiming once clearly released a signal: Education is the company’s new business direction for cross-border attempts and is one of the focuses in the future. In addition, various innovative businesses are also proceeding step by step. Since 2020, Bytedance has made a lot of noise in education, games, e-commerce live broadcast, e-commerce, To B and other fields.
Nowadays, low-key financial business seems to be vigorously emerging, which is in line with the style of byte-multiple businesses, multiple lines of the same business run at the same time, and a lot of investment is expected to burst money.
TikTok’s dilemma has made ByteDance’s valuation inevitably lowered. Financial business may be one of its new stories to the capital market.