Big news! ByteDance’s affiliated companies acquire stakes in cross-border e-commerce platform

ByteDance acquires stake in cross-border e-commerce giant Starlink

In 2020, traditional e-commerce ushered in a period of explosive growth amidst the difficult situation. At the same time, live streaming e-commerce platforms such as Douyin and Kuaishou also began to catch up.

It is understood that ByteDance's global CEO Zhang Yiming mentioned in the internal goals that in 2021 , the focus will be on three new business directions - cross-border e-commerce, To B (enterprise services) and LKP (office hardware suite).

Recently, there was news that ByteDance's affiliated company Beijing Quantum Leap Technology Co., Ltd. has invested in Starlink Technology, a major cross-border e-commerce exporter.

This news excited many small and medium-sized sellers in the cross-border circle, and also sparked interest in Starlink Technology, in which ByteDance's affiliated companies have invested.

As an Internet company in Shenzhen, Starlink Technology is engaged in the development and sales of big data, computer software applications, domestic trade, import and export business, corporate management consulting, business information consulting, advertising business, etc.

In 2020, Starlink's cross-border business also ushered in a big explosion. Its sales of clothing, shoes and hats, home furnishings, toys and other categories grew rapidly. It has now become one of the leading companies in the cross-border e-commerce industry.

In September last year , Starlink Technology also completed a RMB 300 million Series A financing round led by Sequoia Capital China, with participation from Tiantu Investment, Xiangfeng Investment, and Lingxi Capital.

From the words "import and export business" and "advertising business", we can see the powerful combination of the two, which also reminds the editor of the previous news that Cross-Border Link sold its holdings in Paton, Xiaomi and Zongteng.

ByteDance’s large-scale layout of cross-border e-commerce has led many industry insiders to speculate that cross-border e-commerce will usher in a big explosion and that e-commerce companies have unlimited development potential!

ByteDance plans to expand its business overseas

In fact, ByteDance's e-commerce business was relatively scattered before. Subsequently, it established an e-commerce business department, sounding the clarion call for entering the e-commerce market.

After adjustments, ByteDance has focused its e-commerce business on content platforms such as Douyin, which have both traffic and users. During the epidemic, ByteDance has seen the huge potential of live e-commerce.

Data shows that in 2020, Douyin's e-commerce annual GMV exceeded 500 billion yuan, doubling its growth and more than tripling that of 2019.

Subsequently, ByteDance's Douyin e-commerce business planned to raise its full-year GMV target for 2021 to 1 trillion yuan.

ByteDance also plans to pick up its previously frustrated cross-border e-commerce business and expand its business overseas. Investing in Starlink may be one of the steps.

In just one year, ByteDance has turned live e-commerce into one of its most important businesses. Today, ByteDance has formed three major revenue channels, mainly advertising, live e-commerce and other businesses.

As we enter 2021, competition in cross-border e-commerce remains fierce. However, with the rise of various e-commerce businesses, new opportunities have also emerged. ByteDance's layout in cross-border e-commerce may be another opportunity.

Cross-border e-commerce market

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