ByteDance executive leaves to start cross-border e-commerce venture after Shein, Temu success in US
Ren Lifeng left ByteDance last year and recently registered Shumei Wanwu with nearly US$140,000 in registered capital
As other Big Tech executives Icave for the booming Al sector, Ren is focusing on cross-border e-commerce after other Chinese-backed apps found success overscas
A founding member of ByteDance’s flagship Douyin app, the Chinese version of TikTok,has left the tech giant to focus on his own start-up for cross-border e-ccommerce, as Chinese-backed peers like Shein and Temu gain traction worldwide
The new venture from Ren Lifeng, who left Byte Dance in the second half of 2023, is called Beljing Shumei Wanwu Technology Co. It was incorporated on January 3 with a registered capital of 1 million yuan (USS139,119), according to company registry infomation provider Qichacha.
The entrepreneur, who two former ByreDance employees say is known for his easy-going personality, was part of Douvin’s founding team before the short video app launched in 2016. Specialising in content and operations, Ren later headed XiguaVideo, another ByteDance product with a focus on medium-length and long-form video.
In 2022, he joined Pico, the now-struggling virtual reality unit that thatBeijing-based tech unicom had acquired a year earlier. Prior to that, Ren worked at BaiduTieba, a popular online forum owned by China‘s leading internet search giant.