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China, particularly with the Covid-19 pandemic causing a broader adoption of remote work in the country. ByteDance had already begun its expansion into enterprise productivity prior to the outbreak. In April 2019, the company launched Lark (known as Feishu in China), a productivity app similar in design to many B2B software apps from US-based companies. Lark combines functions like calendar, documents, and chat. In the wake of Covid-19, ByteDance reportedly made the decision to retool the app with a greater focus on cloud- based file management and document & spreadsheet editing. Lark is not the only work-oriented product ByteDance is developing. The company offers a full range of office tools that resembles services like Google’s G Suite. Source: Bloomberg In February, the company offered free access to Feishu’s premium features to enterprise users, a move that propelled the app to a peak of 22,000 downloads per day, according to Sensor Tower. Even if they’re not directly generating much revenue at the moment, the enterprise apps will work to keep users inside ByteDance’s ecosystem. Education As in the enterprise productivity space, the Covid-19 pandemic is presenting ByteDance with an opportunity to boost its presence in an industry where it was just beginning to make moves: edtech. In early 2019, ByteDance acquired a number of education patents from smartphone maker Smartisan. The company has also launched several education-based initiatives in recent years. GoGoKid is a tutoring platform for Chinese children to learn English online from 12/17PDF Image | How TikTok’s Owner Became The World’s Most Valuable Unicorn
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