The story of TikTok’s start highlights how visionary ideas, much like those of Steve Jobs, can have unexpected paths that profoundly impact global technology and culture.
A recent examination of court documents and business transactions reveals a complex web of investments and technological pivots that trace back to an obscure Chinese real estate venture.
In 2009, Susquehanna International Group, a firm well-known for its strategic market placements, invested in a promising Chinese real estate start-up named 99Fang, which boasted a sophisticated search algorithm. The venture didn’t meet its commercial expectations but set the stage for what would later become ByteDance, the parent company of TikTok.
