Shou Zi Chew

2025.02.15

09:04

In 2024, Douyin e-commerce GMV will be about 3.5 trillion yuan, a year-on-year increase of more than 30%.

On the morning of February 13, ByteDance held a new staff meeting. ByteDance CEO Liang Rubo, CFO Gao Zhun, HR director Hua Wei, e-commerce director Kang Zeyu, AI director Zhu Wenjia, and TikTok CEO Zhou Shouzi attended the meeting to communicate with employees. Regarding the e-commerce business, Liang Rubo said that Douyin e-commerce has three goals this year, namely increasing user coverage, increasing the scale of live e-commerce, and increasing GMV (total transaction volume) generated by searches. According to the all-staff meeting, the GMV of Douyin e-commerce in 2024 will be about 3.5 trillion yuan, a year-on-year increase of more than 30%. The GMV of Douyin e-commerce in the first half of last year did not meet expectations. In the second half of the year, when many head anchors "collapsed" and other heads were less enthusiastic about participating in the promotion, the gap in the GMV target was still made up through the unexpected performance of shelf scenes and store broadcasts (merchants' own broadcasts). For overseas business, Kang Zeyu introduced that TikTok's e-commerce market share in Southeast Asia continued to increase, and the UK completed its GMV target with a budget better than the plan at the beginning of the year. The performance of the US market in 2024 was not as expected, and many goals were not achieved in the first three quarters. In the third quarter, the management team reviewed the US market strategy, cut the budget, and focused on content e-commerce. GMV resumed growth, and the short video submissions of influencers increased significantly. The live broadcast GMV of TikTok's US e-commerce is still less than 20%, most of which is contributed by short videos, while domestic GMV is mostly contributed by live broadcasts. Regarding the company's image, Liang Rubo said that catching up with YouTube in terms of user trust and reputation is the business goal this year. He also mentioned that Douyin and Toutiao should do a good job in the governance of false information and rumors, crack down on the behavior of seeking traffic without bottom line, and increase the fairness and predictability of governance.

08:53

ByteDance CEO reflects on DeepSeek: The follow-up speed is not fast enough, and we need to pursue the upper limit of intelligence this year

On the morning of February 13, ByteDance held a new staff meeting. ByteDance CEO Liang Rubo, CFO Gao Zhun, HR Director Hua Wei, E-commerce Director Kang Zeyu, AI Director Zhu Wenjia, and TikTok CEO Zhou Shouzi attended the meeting to communicate with employees. Regarding the AI business, ByteDance CEO Liang Rubo proposed key goals for 2025 at the meeting, including pursuing the upper limit of "intelligence", exploring new interactions, and strengthening scale effects. Liang Rubo said that the long-chain thinking model, one of the innovations of DeepSeek R1, is not the first in the industry. After OpenAI released the long-chain thinking model in September last year and it became a hot topic in the industry, ByteDance realized the major changes in technology, but the follow-up speed was not fast enough. If it had paid attention to it in time, it would have had the opportunity to achieve it earlier.

2025.01.16

13:10

TikTok CEO said to attend Trump inauguration

Shou Zi Chew, the chief executive of TikTok, will attend the inauguration of U.S. President-elect Donald Trump on Jan. 20, according to The New York Times.

2024.12.17

08:00

TikTok CEO meets Trump while facing U.S. ban

U.S. President-elect Donald Trump met with TikTok CEO Shou Zi Chew at Mar-a-Lago on Monday afternoon, according to multiple media reports.

2024.12.07

10:47

Zhou Shouzi: TikTok will seek a temporary injunction to prevent the implementation of the law

The U.S. Federal Court of Appeals announced that it would maintain a law that forced the sale of TikTok, which requires ByteDance to sell or divest TikTok's assets in the United States by January 19, 2025, otherwise TikTok will be banned in the United States. TikTok CEO Zhou Shouzi said in an internal memo that TikTok will seek a temporary injunction to prevent the implementation of the law. "Our next step is to seek a temporary injunction on the ban law and wait for the U.S. Supreme Court to review it." (Interface)

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