News Snapshot:
ByteDance eyes new US$185b business ahead of mega IPO By Bloomberg Monday, May 10, 2021, 10:48 By Bloomberg Zhang Yiming built ByteDance Ltd . into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba. The 38-year-old AI coding genius, searching for ByteDance’s next big act, has set his sights on China’s US$1.7 trillion e-commerce arena. The co-founder has hired thousands of staff and roped in big-name sponsors like Xiaomi Corp. impresario Lei Jun to drive what he calls his next “major...
