• TikTok parent ByteDance said to raise $1.45 billion for AI and content

    10 days ago - By TechCrunch

    ByteDance, the Chinese company behind the immensely popular video app TikTok, is in talks to raise $1.45 billion for a new fund, The Information reported on Friday citing sources.
    The fresh vehicle will help power artificial intelligence and media content for the $75 billion startup that has leapfrogged Uber's valuation , the report said. ByteDance declined to comment on the matter.
    The Chinese startup has set off an aggressive global expansion that sees it merge teen video app Musical.ly into TikTok, which has 100 million and 500 million users , respectively. The upstart has compelled...
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  • Ex-Facebook exec Kirthiga Reddy becomes first female investor at SoftBank's Vision Fund

    Ex-Facebook exec Kirthiga Reddy becomes first female investor at SoftBank's Vision Fund

    10 days ago - By TechCrunch

    Following speculation that SoftBank is hiring a China-based team , so the Japanese investment giant has brought on a first venture partner for its $100 billion Vision Fund.
    Kirthiga Reddy, a former executive with Facebook, has taken the role and, in doing so, she becomes the first female member of SoftBank's Vision Fund investment team. She will be based in San Carlos, Silicon Valley.
    Reddy spent eight years at Facebook, mostly as managing director for its business in India and Southeast Asia before a two-year stint in the U.S. leading global partnerships.
    In her new role, she will work...
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  • China's ByteDance to raise about $1.45 billion for its venture fund: the Information

    10 days ago - By Reuters

    Beijing ByteDance Technology Co, one of the world's most valuable startups, is in talks to raise about $1.45 billion to invest in artificial intelligence and media content, The Information website reported on Friday.
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