ByteDance’s Douyin expects that its no-commission structure and huge traffic from short videos can lure consumers away from incumbent platforms like Meituan and Ele.me.
The development of the three core components of the platform, including payment processing, insurance selling, and securities trading, has been completed.
On the 9th anniversary of his startup, ByteDance founder Zhang Yiming quoted Buddhism verses, asked his employees to keep an ordinary mind, and even mocked his peers for excessive use of jargon.
