Beijing Based Byte Dance, the owner of Tik-Tok known for its short entertaining clips will be part of the search engine market in China. The current China market is dominated by Baidu. Its search engine is called Toutiao Search is an extension of already existing news aggregator.
Byte Dance is diversifying its business from media to workplace messaging apps, competing with Chinese tech giants. Last month, the company had said that it’s looking towards expanding search engine team. It has already hired technical experts from Google, Bing, and Baidu.
Toutiao Search will offer search results that are approved by state media outlets. Its competitor Baidu captures 76% of the China market and 1.2% of the world’s market. It was launched in 2010. Google was resented from the Chinese market when it didn’t abide by the Chinese government regulations for cens0ring the results.
“We have estimated that there are about two new players emerging in the search engine market each year,” Ping Xiaoli, general manager of Baidu App, told reporters last week when asked about Bytedance’s search engine. Mr. Ping added that they have been dominating the market for over two decades.
Byte Dance TikTok was the most downloaded app last year surpassing platform such as Instagram. It bought Musical.ly in 2017 and turned in TikTok. While recently Baidu reported its first-quarterly loss since its public offering.
Tik Tok parent company is the most highly valued startup in the world with a valuation of $75 Billion. Its announcement to launch search engine comes after its plans to enter the phone market with preloaded apps. The plan to mark a footprint in the smartphone market is to do with the help of device-maker Smartisan Technology.