ByteDance Changes Names of Subsidiaries to Douyin, Speculate

ByteDance also launched a new streaming service app that will rival Spotify in China. ByteDance, the China-based owner of the famous social media platform TikTok, had added Douyin to its subsidiaries' names, including one based in Hong Kong, where the company was reportedly considering floating part of its business before it was put on hold due to China's regulations.

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