Chinese tech company and owner TikTok, ByteDance recruits the boss Xiaomi Shou Zi Chew. At ByteDance, Shou Zi Chew will occupy the position of chief finance officer (CFO) or head of finance.
In a post on social media, Shou Zi Chew said he would be based in Singapore to carry out his new post.
Shou Zi Chew is said to have known ByteDance since he worked for private equity firm DST which became ByteDance’s initial investor.
“I’m sure the experience Chew can help us expand our global business even further,” said the head of the resource ByteDance, Liang Rubo in a memo, quoted by Reuters.
Xiaomi has also issued a statement that Shou Zi Chew has resigned or resigned from his position at the cellphone company on Wednesday (24/3).
The election of Shou Zi Chew further strengthens the suspicion that the company that oversees TikTok will soon take the floor on the stock exchange or an initial public offering (IPO).
ByteDance Consider IPO
ByteDance is currently reportedly considering a number of options for an IPO.
First, registering subsidiaries such as the Chinese version of Douyin or TikTok individually. Meanwhile, the second, combines several subsidiaries such as Douyin and news aggregator Jinri Toutiao as one unit.
Bytedance is also currently choosing the right stock exchange location for this subsidiary. The two current candidates are exchanges in Hong Kong and Shanghai.
Meanwhile, for non-Chinese businesses such as TikTok, ByteDance is considering the stock market in Europe or the United States.
ByteDance is one of the companies that is currently on the rise, one of which is due to the phenomenal TikTok. Earlier this year, they even received a fund of US $ 180 billion.
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