China's ByteDance to invest in newly-launched education technology business

China's ByteDance to invest in newly-launched education technology business

FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken Nov. 27, 2019. REUTERS/Dado Ruvic

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.

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