BEIJING: TikTok has planned to invest huge capital into its newly-established education technology business.
A senior executive at TikTok owner ByteDance said that the company planned to invest in the education technology business, however, the firm warned that the unit will be unlikely to profit in the next three years.
Beijing-based ByteDance has made education technology one of its top priorities alongside short video app TikTok. Chen Lin, senior vice president at ByteDance, said in an internal speech that the company entered the education technology sector in 2016 via investments and trying out various projects.
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ByteDance operates one-on-one English tutoring app GoGoKid and online course live streaming app Qingbei.
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