(Yicai Global) July 6 -- TikTok operator ByteDance Technology has denied a Financial Times report that said its BytePlus division is selling some of the artificial-intelligence technology that powers the short-video platform.

The new division provides tech services to third parties, without selling them algorithms or AI code, the Beijing-based company said yesterday via its news aggregator Toutiao.

The FT reported on June 4 that BytePlus offers clients the “algorithm that keeps users scrolling by recommending them videos that it thinks they will like.” The report said the move is aimed at widening ByteDance’s revenue streams before a potential initial public offering.

BytePlus was set up last month. Its clients include US fashion app Goat, Singaporean travel website WeGo, Indonesian shopping startup Chilibeli and Indian social gaming platform Games App, according to its website.

BytePlus not only provides personalized product recommendation algorithms to clients, but also offers automated voice and text translation, real-time video effects, and data analysis tools.

Editor: Futura Costaglione