Kai Ba, 4/26/18
Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA) is looking to make a USD 10-digit investment in Beijing-based Bytedance Technology, operator of online and mobile news portal platform Today's Headlines, according to independent tech media blogger "Kai Ba." Both companies responded by saying that they do not comment on market rumors.
According to Kai Ba's report, someone familiar with the matter has said Bytedance is currently conducting a new round of financing, and among the prospective investors Alibaba is planning to make a multi-billion USD investment. The purported Alibaba insider said that in addition to the traffic-generation/cross-promotion value Alibababa sees in partnering with Today's Headlines, Alibaba is also interested in the potential marketing opportunities presented by Bytedance's video sharing app Douyin. For example users could directly link to and enter Alibaba's C2C e-commerce site Taobao from within Douyin.
Editor's Note: Kai Ba is the pen name of tech blogger and deputy editor of Sohu's IT channel Lin Fenglei.