Company

ByteDance

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ByteDance is a technology company founded by Yiming Zhang and co-founded by Rubo Liang, who serves as CEO . It owns products including Feishu and is positioned as a rival to Tencent . The company is backed by DST and was an early portfolio company of Source Code Capital, which invested in it alongside Meituan, KE Holdings, and Li Auto .

ByteDance has pursued an aggressive AI and hardware strategy in recent years. In 2024 it fully acquired Oladance, an open-ear headphone brand, to bolster its "AI + hardware" entry point . It has also made multiple bets in embodied intelligence: it led the A++ round of Independent Variable Robotics, which raised 1 billion yuan at a valuation exceeding 20 billion yuan , and partnered with Astribot on cable-driven AI robots . In late 2025, it jointly launched a Doubao AI phone engineering prototype with ZTE—30,000 units sold out immediately, with resale premiums exceeding 3,500 yuan . Its cloud unit Volcano Engine operates the Skylark large model and Volcano Ark platform , and the company has co-developed models with startups including Dream Dimension . Earlier acquisitions include Musical.ly (later merged into TikTok) and Moonton for a reported price above $4 billion .

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