Beijing: TikTok proprietor ByteDance mentioned on Wednesday it has employed Xiaomi Corp senior vice chairman Shou Zi Chew to be its new chief finance officer.
Chinese smartphone maker Xiaomi mentioned earlier right this moment in a submitting to Hong Kong Exchange that Chew had resigned.
ByteDance`s creation of the CFO function indicators that it’s moving towards a much-anticipated preliminary public providing (IPO).
Earlier this yr, ByteDance closed a fundraising that values it at $180 billion, greater than doubling its valuation from a earlier spherical in 2018.
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Beijing-based ByteDance has been contemplating whether or not to acquire a standalone public itemizing for Douyin, the Chinese model of TikTok, or checklist a few of its Chinese operations together with Douyin and information aggregator Jinri Toutiao as a bundle in Hong Kong or Shanghai, Reuters has reported.
