Spotlight Monday ByteDance ByteDance is reportedly in talks | 86insider

Spotlight Monday

ByteDance
ByteDance is reportedly in talks with banks on raising a US$4 billion loan to support its overseas expansion, refinance debt and replenish funds for daily operations.

Didi Chuxing
After failing to gain an edge in the community group-buy sector , Chengxin Youxuan will cease operations in 22 provinces, accounting for more than 60% of its service locations.

Tencent
After receiving multiple complaints on the loss of chat data, WeChat plans to launch a paid cloud storage service that allows users to back up their chat records.

Tencent has applied for two trademarks related to "metaverse"—creating an immersive virtual world via AR and VR—for its games .