TikTok owner ByteDance appoints lawyer Julie Gao as new CFO

TikTok owner ByteDance appoints lawyer Julie Gao as new CFO

Gao, currently a Hong Kong-based capital markets attorney at
law firm Skadden, will be based in Hong Kong and Singapore once
she joins ByteDance.

Gao, currently a Hong Kong-based capital markets attorney at
law firm Skadden, will be based in Hong Kong and Singapore once
she joins ByteDance.

TikTok-owner ByteDance has
appointed corporate attorney Julie Gao as its new chief
financial officer (CFO), according to an internal memo sent to
staff on Monday and seen by Reuters.

(Sign up to our Technology newsletter, Today’s Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.)

Gao, currently a Hong Kong-based capital markets attorney at
law firm Skadden, will be based in Hong Kong and Singapore once
she joins ByteDance, according to the memo sent by ByteDanceCEO Liang Rubo.

A ByteDance spokesperson confirmed Gao’s appointment.

Gao will join ByteDance in May, according to a person with
direct knowledge of the matter.

Gao has advised on ByteDance’s acquisitions of Musical.ly,
which was later integrated into TikTok, and Shanghai-based
gaming studio Moonton, according to her biography page on
Skadden’s official website.

The move comes after ByteDance’s former CFO Shou Zi Chew,
who joined the company in March 2021, stepped down in Novemberfrom the CFO role to focus on being TikTok’s CEO.

The company currently doesn’t have a timeline for itsmuch-anticipated IPO, according to the person.

ByteDance said last April
it did not have any imminent plans for a public listing.
Sources had previously told Reuters it was looking at a Hong
Kong or New York listing.

The 10-year-old company saw its total revenue grow by 70%
year on year to around $58 billion in 2021, slower growth than a year earlier as
China tightens its regulation of big tech companies.

In 2020, the company’s total revenue grew by over 100% to
$34.3 billion.

One of the world’s largest private companies, ByteDance had
a valuation of about $300 billion in trades earlier this year.

Source link

The post TikTok owner ByteDance appoints lawyer Julie Gao as new CFO appeared first on India Express Online.

Source: Around the Globe

Leave a Comment

Your email address will not be published.