Zhang Yiming

Summary

Chinese entrepreneur Zhang Yiming is the founder of ByteDance, parent company of the popular short-video app TikTok. Under his leadership, ByteDance grew into one of the most valuable private technology companies in the world, revolutionizing digital content. Zhang is acclaimed for his vision in artificial intelligence, machine learning and global content creation.

Biography

Born on April 1, 1983, in Longyan, Fujian, China, Zhang Yiming graduated from Nankai University with a degree in software engineering. He is the founder and chief executive of Beijing ByteDance Technology Co., one of China’s largest internet technology companies that is a leading online content platform due to its ability to draw social media users. The ByteDance portfolio includes content platform Toutiao and video-based social media app TikTok. Founded in 2012, ByteDance is valued at an estimated $75 billion and attracts close to 1 billion monthly users worldwide!

Zhang Yiming has an interesting career. Following his graduation in microelectronics and software engineering at Nankai University, he worked at the travel website Kuxun, later acquired by TripAdvisor. Yiming worked at Microsoft for a short time and then began producing apps and founded several start-ups, including a real estate search portal and news aggregation apps. He first launched AI-based news recommendation engine Toutiao which became hugely successful with millions of downloads. Zhang partnered with Chinese smartphone manufacturers to embed it into new phone models.

ByteDance later rolled out its short-video platform Douyin (known as TikTok in the US) in 2016 and acquired the popular US app Musical.ly for $1 billion to merge it with TikTok in 2018. The product was an instant hit with millennials and became popular worldwide. He insisted that ByteDance’s workplace productivity app Lark be targeted at the American, European and Japanese markets, rather than limiting the focus to China. Zhang’s management style with ByteDance was modeled on US tech companies such as Google and included town hall meetings.

Per BoF: “The privately held company is backed by shareholders including Sequoia Capital China, SotftBank Group Corp., KKR & Co. and General Atlantic. TikTok became the most downloaded iOS app worldwide in the first quarter of 2019, according to the US research app Sensor Tower… However, Bytedance is routinely scrutinised by the Chinese government for its lack of filtering fake news and violent and sexual content for its users as young as 12 years old.”

Zhang stepped down as CEO of ByteDance in 2021 but remained an influential figure in the company’s strategic direction. Per Reuters, Zhang maintains over 50 percent of ByteDance’s voting rights.

Awards and Recognition

Forbes named Zhang Yiming in its 2013 China 30 Under 30 list. In 2018, he was included in Fortune magazine’s 40 Under 40 list. Zhang was also named one of Time magazine’s 100 Most Influential People of 2019. Under his leadership, ByteDance was valued at an estimated $140 billion by 2020, making it one of the most valuable startups globally. His ability to turn ByteDance into a tech powerhouse also earned him recognition as one of China’s richest individuals. Despite stepping down from his role as ByteDance’s CEO, his legacy in the tech industry continues to inspire entrepreneurs and technologists.

References

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