ByteDance Pte. Ltd, founded in March 2012, is an information technology company with annual revenue of about $58 billion in 2021. ByteDance Artificial Intelligence Lab was established in 2016 to explore long-term and open questions in AI-related fields and help the company realize its vision for future development. On May 20, 2021, Zhang Yiming announced that he would step down as CEO of ByteDance, and co-founder Liang Rupo would take over. On November 2, 2021, Liang Rupo issued an all-staff email to announce the organizational restructuring, and has officially taken over as CEO of ByteDance, fully responsible for the overall development of the company.