Influencer Li Ziqi Sues Weinian, ByteDance Withdraws Stake in Firm
Several Chinese media outlets reported on Wednesday that due to a dispute between prominent web influencer Li Ziqi and her partner company, Weinian Brand Management Co., Ltd., ByteDance withdrew its stake in the company on October 16. ByteDance has confirmed the report.
About four months ago, ByteDance took up a 1.48% stake in Weinian. Chin…