TikTok owner ByteDance appoints lawyer Julie Gao as new CFO

The logo of TikTok’s parent company ByteDance is seen on its booth during a media tour at the exhibition center of Zhongguancun National Innovation Demonstration Zone in Beijing, China, 10 February 2022 REUTERS/Florence Lo

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

Gao, currently a Hong Kong-based capital markets lawyer with law firm Skadden, will be based in Hong Kong and Singapore once she joins ByteDance, according to the memo sent by ByteDance CEO 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 advised on ByteDance’s acquisitions of Musical.ly, which later folded into TikTok, and Shanghai-based game studio Moonton, according to his biography page on Skadden’s official website.

The move comes after former ByteDance CFO Shou Zi Chew, who joined the company in March 2021, stepped down as CFO in November to focus on the CEO role at TikTok.

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

ByteDance said last April that it had no imminent plans for a public listing. Sources had previously told Reuters it was considering a Hong Kong or New York listing.

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

n 2020, the company’s total revenue increased by more than 100% to $34.3 billion.

One of the largest private companies in the world, ByteDance had a valuation of around $300 billion in deals earlier this year.


Comments are closed.