TikTok owner ByteDance is upping the ante by increasing its presence in China’s highly competitive online educational market. The tech giant is creating a standalone brand that will take over all of its education products, as demand for e-learning has soared amid the Covid-19 pandemic, reported Caixin.
Chen Lin, former head of ByteDance’s news aggregation platform Jinri Toutiao, is the CEO of the newly established unit named Dali Education, which already employs more than 10,000 people, according to a ByteDance spokesperson.
The new brand’s launch comes as a number of leading Chinese online tutoring startups such as Zuoyebang and Yuanfudao have sought to raise new funds to finance their business expansion.
“Our exploration of the education industry is still in the early stage … and the brand independence of Dali Education is just the beginning of a long journey,” said ByteDance founder and CEO Zhang Yiming, who in March emphasized education as a strategic new business direction for his company.