ByteDance to invest in education technology business

A senior executive at TikTok owner ByteDance said the company plans to invest “a huge amount” of capital into its newly-established education technology business but warned that the unit will be unlikely to profit in the next three years.

Beijing-based ByteDance has made education technology one of its top priorities alongside short video app TikTok, which is facing scrutiny in Washington over suspicions China could force the company to turn over user data.

Chen Lin, senior vice president at ByteDance, said in an internal speech that the company entered the education technology sector in 2016 via investments and trying out various projects, according to a transcript published by the company on social media.