ByteDance massive entry into education sector3. March 2021
ByteDance massive entry into education sector
Beijing-based Tik-Tok owner ByteDance plans to hire around 10,000 employees over the next four months. The main areas to be strengthened are teaching, product development and community management. More than 3,000 new graduates will be hired this spring with positions in 11 Chinese cities. The company is trying to diversify its revenue sources.
Last October, ByteDance had consolidated its education products under a standalone brand called Dali Education, which offers preschool and K-12 courses, adult education services and smart learning devices to its customers.
ByteDance entered the education sector in 2016 by acquiring smaller competitors and launching its own products such as the GoGoKid one-on-one English tutoring app.
Earlier, Chen Lin, CEO of Dali Education, unveiled plans to invest heavily in the emerging education business over the next three years, regardless of potential losses.
According to a report by the Chinese Academy of Sciences, China’s online education industry was funded over 50 billion yuan ($7.7 billion) in 2020, more than the previous 10 years combined.