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    How ByteDance Achieved Unicorn Status? Revealing Its Global Strategy

    Alexander Johnson

    By Alexander Johnson - Apr 21, 2024 | Updated On: 05 July, 2024 | 3 min read

    By Alexander Johnson , 3 min read - Apr 21, 2024

    Updated On: 05 July, 2024

    How ByteDance Achieved Unicorn Status. Image Credit: Social Media.

  • Chinese internet company, ByteDance is one of the world’s powerful startups. With hundreds of billions of dollars in valuation, ByteDance has become an iconic brand.

    From a small startup to the world’s tech giant, we will explore how ByteDance achieved unicorn status. Also, we will discuss the company’s products – including TikTok– history, founders, and many more. Therefore, stay with us until the end.

    A Short History of the Company – Who Are Its Founders?

    Before we explore ByteDance’s history, we must know about its founders’ initial business experiences. Chinese entrepreneur Zhang Yiming and his friend Liang Rubo co-founded 99fang.com, a real estate platform, in 2009.

  • In early 2012, Zhang and Liang and several 99fang staff began working on an application that would use big data algorithms to categorize news based on user choice. That app is none other than Toutiao.

    In March 2012, Yiming, Rubo, and a team founded ByteDance and launched their first app, Neihan Duanzi. This platform enabled people to share jokes, memes, and humorous videos.

    How ByteDance Achieved Unicorn Status

    How ByteDance Achieved Unicorn Status. Image Credit: Social Media.

    Duanzi had over 200 million users before being shut down by the Chinese government in 2018.

    How ByteDance Achieved Unicorn Status?

    Just like Huawei Pura 70, the Chinese company primarily uses three methods in its core business areas. Thanks to that approach, it has become the world’s most valuable unicorn.

  • Young And Highly Engaged User Base

    ByteDance is harnessing an audience of actively engaged young people to increase its growth. In the United States, 60% of TikTok users are supposedly between the ages of 16 and 24.

    Engineering Products For Virality

    The video-sharing platform TikTok is one of ByteDance’s products. The company has tapped into something powerful in how customers like to engage with content.

    Thanks to that, TikTok’s top 50 content developers have more followers than the entire population of Canada, the UK, Australia, and Mexico.

    Personalization And Recommendation Algorithms

    Another example of how ByteDance achieved unicorn status is the artificial intelligence laboratory. It specializes in creating algorithms matching users with content, from music and video to e-commerce and news.

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    Uses SSP Platform Differently From Most Companies

    Bytedance uniquely operates its SSP platform compared to most other organizations.

    The company’s product teams or units cannot control their operating resources. Instead, many standard commercial, technology, and operational responsibilities are consolidated and grouped into teams.

    Similarly, the teams are highly specialized. This led to the right people being found and flexibly deployed as needed to each new venture. Also, cloud and shared operational tools allow the company to maintain the complex organizational setup.

  • How ByteDance Achieved Unicorn Status

    How ByteDance Achieved Unicorn Status. Image Credit: Social Media.

    In some circumstances, product teams customize SSP-developed technologies. For example, consider algorithms. ByteDance’s product teams collaborate with SSP algorithm engineers to optimize their strong recommendation engines.

    Because so many capabilities have been concentrated under this huge SSP, product teams are often small and focused, particularly during the exploratory period.

    Similarly, you might like to read about the Latest Israeli Cyber Unicorn, Cyera.

    Creation of Unique Innovation And Growth Strategies

    According to multiple sources, ByteDance has created unique growth and innovation strategies. Some of them are mentioned below.

  • Rapid Iteration

    How ByteDance achieved unicorn status? Another answer to the question is the company’s speed of development and getting products to the market.

    How ByteDance Achieved Unicorn Status

    How ByteDance Achieved Unicorn Status. Image Credit: Social Media.

    For example, the company only took four months to launch an educational app. According to one company employee, other companies would have taken 18 months to launch.

    Broad Exploration

    Since its inception, ByteDance has actively sought new product prospects and has not hesitated to send many teams into the same area.

    For example, it famously developed 12 entertainment content apps in its first few months of operation, followed by 20 apps to evaluate foreign-market prospects in 2015.

  • Products of ByteDance – Are they Famous Worldwide?

    • TikTok
    • Tautiao
    • TikTok Music
    • CapCut
    • Lark
    • Baike
    • PICO
    • Lemon8
    • BuzzVideo

    We hope you are now aware of the strategies and plans of ByteDance, which made it the world’s renowned unicorn company. We will be back with another article soon. Until then, sayonara.

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