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Of all of the verticals that ByteDance is expanding into, search stands out for the market domination of the giants already in the space. In China, there’s Baidu, which controls over 75% of China’s market share. And everywhere else, there’s Google, which accounts for 87% of search traffic worldwide, according to Statista. But given how power dynamics in the digital world have shifted, it’s not as clear as it once was that the company that controls search controls everything else. This new reality is already being proven out among ByteDance users, who often default to ByteDance products as a matter of habit. As Zhang Xueru of Shanghai-based 86 Research notes, “ByteDance has gained so much traffic through its news feed and short-video apps, many users already started to search for content within its systems; that’s why they are taking search to the next level and commercializing it.” This dynamic is likely to inform how ByteDance looks to expand into the search space. Rather than launching a dedicated search engine product, the company is instead opting to incorporate search into its existing platforms. In August 2019, ByteDance launched Toutiao Search, a search engine that sits within the Toutiao news aggregation app. The search engine shows users a combination of results from Toutiao and other sources around the web. E-commerce E-commerce presents ByteDance with the formidable task of going head-to-head with Alibaba and Amazon. To carve out its own space, the company is leaning hard into its existing advantages by seeking to blur the line between content and commerce. ByteDance’s relationship with existing e-commerce forces has not been strictly antagonistic. In fact, the company has partnered with Alibaba on e-commerce initiatives, suggesting there may be room for the dueling companies to share the space — at least for a time. As with other verticals like music and search, ByteDance is leveraging its already-popular platforms as a springboard for expanding into e-commerce. The company is already testing in-app e-commerce on TikTok with initiatives like “shop now” ads that allow users to access a shopping site inside the app. Douyin, the version of TikTok for the Chinese market, has also partnered with Alibaba to add a shopping cart button. According to the company, the feature facilitated “nearly $30M in sales on a single day in December 2018.” But questions linger about how sustainable this approach will prove be in the long-run, and ByteDance is already laying the groundwork for alternatives. For example, Toutiao introduced its own e-commerce platform Zhidian in 2018. ByteDance also recently launched another e-commerce platform, Xincao, that focuses on younger consumers. 10/17PDF Image | How TikTok’s Owner Became The World’s Most Valuable Unicorn
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