Caixin: Amid Platform Crackdown, TikTok-Owner ByteDance Looks to the Cloud
Fri December, 2021, Age: 1 year
Chinese short-video behemoth ByteDance is getting into the cloud business.
Volcano Engine, a brand launched by the TikTok operator in summer, has announced a series of enterprise cloud services in a major step into a market dominated by larger rivals Alibaba and Tencent.
It comes as the tech unicorn seeks to expand its revenue streams beyond mainstay consumer-facing apps amid Beijing’s tightening regulatory scrutiny of tech and internet giants.