TikTok owner ByteDance to spin off real estate listing service

Nov 25, 2021 8:53 am

Chinese social media group ByteDance plans to hive off its real estate listing information platform to focus on its core businesses, according to The Paper.

The move to make Xingfuli independent is the first time that Shanghai-based ByteDance has attempted to spin off a business since it was set up in 2012, the report said. Founded in 2018, Xingfuli’s predecessor was the real estate channel of ByteDance’s news aggregator Toutiao. It has since grown into a separate service.


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