ByteDance is selling some of the artificial-intelligence technology that powers its viral video app TikTok to websites and apps outside China, as it broadens its revenue streams ahead of a long-anticipated initial public offering, reported the Financial Times.
A new division called BytePlus quietly launched in June and already lists customers all over the world, including in the US.
According to its website, early customers include Goat, the US-based fashion app; WeGo, a travel booking site in Singapore; and Chilibeli, an Indonesian online shopping start-up. TikTok is also listed among its customers.
BytePlus offers businesses the chance to tap some of TikTok’s secret ingredient: the algorithm that keeps users scrolling by recommending them videos that it thinks they will like. They can use this technology to personalize their apps and services for their customers.