Bytedance is extending its core business to include a livestreaming service

Bytedance has reportedly formed an internal platform to provide support for its live-streaming business. The new service was referred to as “big middle platform”, or dazhongtai (大中台) in Chinese, which is an integration of technical and operations teams for live-streaming services from three of Bytedance’s video apps, known as Douyin, Xigua Video, and Huoshan. The idea is to create another money-making machine for what is now one of China’s leading tech companies, whose ambitious goal is to achieve annual revenue of RMB 100 billion (around $15 billion).