TikTok’s parent ByteDance builds car sales service subsidiary

Shanghai (Gasgoo)- ByteDance, a Chinese social media titan operating several machine learning-enabled content platforms such as TikTok and Toutiao, recently established a car sales service subsidiary.

Photo credit: ByteDance

The newborn company was incorporated in Yuechi county, Sichuan province and involves a registered capital of 1 million yuan ($157,000), according to the corporate data platform Tianyancha. It is wholly controlled by Beijing Youzhuju Network Technology Co.,Ltd, a wholly-owned subsidiary of ByteDance (Hong Kong) Ltd.

Business scope of the Sichuan-based subsidiary extends to cover the new car sales, the dealership and brokerage of used cars.

Although ByteDance has not announced its foray into automobile industry yet, the company has already deployed such auto-related businesses as automotive cloud and autonomous driving.

It was reported that the social media giant last month launched its auto cloud business, which provides three services, namely, IaaS (Infrastructure as a Service), SaaS (Software as a Service), and PaaS (Platform as a Service). To the specific, the IaaS offers public cloud access; the SaaS includes the capabilities like service management, vehicle management, data generation, and post-sale data analysis; the PaaS consists of data annotation, image rendering, data unpacking and other capabilities.

In September, ByteDance took part in the Series C funding of VisionNav Robotics, a Chinese unmanned industrial vehicle technology provider.