Dali, meaning “forceful power” in Chinese, will host all of ByteDance’s education sector and already has 10,000 staffs.
Beijing-based ByteDance revealed on Thursday that Dali’s stand-alone technology in education (edtech) brand will become another global tech player looking to capitalise on the business boom driven by the COVID-19 pandemic.
Dali, meaning “powerful force” in Chinese, will host all of ByteDance’s education sector and already has 10,000 staff, Dali Chief Executive Chen Lin told a group discussion in Beijing.
The founder and chief executive of ByteDance, Zhang Yiming, said during a statement: “We have begun to grow interests within the education sector very ahead of time. Dali Education’s brand freedom is simply the start of an extended journey.
Need for education technologies increased during the coronavirus pandemic, with severe lockdowns in China and college closures forcing students to require online classes from home for several months.
ByteDance joined the education market in 2016 by investing in edtech start-ups and designing education products of its own. The business runs variety of educational applications, starting from English tutoring to measure classes.
The product was also introduced on Thursday with a man-made intelligence camera that may help parents mentor their children. Priced between CNY 799 (approximately Rs. 8,800) and CNY 1,099 (approximately Rs. 12,100), it’s currently only available in China.
ByteDance has made education technology one in every of its top priorities this year alongside the short TikTok video app, which is besieged to urge eliminate its owner within the light of Washington’s fear that Beijing could compel the corporate to retrieve user data.
Eight-year-old ByteDance ‘s revenue comes primarily from its Chinese short video application, Douyin, and news aggregator, Jinri Toutiao. Chen said in July that the education sector wasn’t visiting be profitable for 3 years.
The business could be a late entrant to China’s online education market, as industry leader Yuanfudao was founded in 2012 and Baidu-backed Zuoyebang began in 2013. Yuanfudao completed three rounds of funding this year, with social media and gaming giant Tencent leading in two rounds, taking Yuanfudao ‘s value to $15.5 billion ( roughly Rs. 1.15.440 crores).
