ByteDance to invest $170M in Chinese e-publishing company Zhangyue for an 11% stake; Zhangyue claims to have 170M monthly active users for its e-book reader app (Rita Liao/TechCrunch)

Rita Liao / TechCrunch:
ByteDance to invest $170M in Chinese e-publishing company Zhangyue for an 11% stake; Zhangyue claims to have 170M monthly active users for its e-book reader app  —  While short videos are what drive ByteDance's revenues and give the Chinese startup international recognition …