French billionaire Xavier Niel is becoming a member of the board of administrators of TikTok’s mum or dad, ByteDance, the corporate informed the South China Morning Post. It’s an fascinating transfer as Niel isn’t a reputation that comes up fairly often for high-profile board positions.
He is changing Philippe Laffont, the founding father of the New York-based funding agency Coatue Management, on ByteDance’s board, per the report. Coatue has been contemplating promoting a portion of its stake in ByteDance, based on a report by The Information on August 23.
Niel is the proprietor of French telecom firm Iliad. He has additionally been an energetic startup investor along with his seed funding agency Kima Ventures and thru different funding automobiles. Additionally, he created Station F, a startup campus based mostly in Paris, in addition to establishing a pc science college known as 42.
