TikTok-owner ByteDance plans to spin off real estate listing business

FILE PHOTO: The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

China’s ByteDance plans to spin off its real estate listing service to focus on its core businesses, a company representative said on Wednesday, as the TikTok owner undergoes a reorganisation.

The company is preparing to hive off Xingfuli, the name of which translates to “happy place”, by introducing external investors, the spokesperson said, confirming plans first reported by Chinese media outlet The Paper on Wednesday.

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