Bytedance, the mothership of both Douyin and Tiktok, has reorganized its leadership and its internal organization, including founder and CEO Zhang Yiming. A good sign at a maturing giant, says Shanghai-based VC William Bao Bean at the Asia Nikkei.
The leadership changes are a sign of the internet sector’s maturation, according to William Bao Bean, general partner of venture capital group SOSV and managing director of its Chinaccelator affiliate in Shanghai.
“The role of a leader of a large internet conglomerate, especially in China is twofold: It is investor relations and government relations,” he said. “So the skills of building an amazing product and making users super happy and then monetizing them through a creative business model are not the skills necessarily required to communicate on a quarterly basis to investors.”
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