The company behind TikTok has recently been allocating capital across a slew of industries.
On January 7, Hangzhou Weisi Technology Co., Ltd. (Weisi) added ByteDance-affiliated Beijing Quantum Yuedong Technology Co., Ltd. as a shareholder, while also adjusting its business models.
Established in 2019, Weisi is a cross-border robotic process automation (RPA) company.
This new investment has revealed ByteDance's ambition in further expanding and developing new feasible markets to integrate new businesses into the existing product matrix.
Check out our analysis of ByteDance's investment strategy change amid the pandemic.