TikTok has exploded in popularity over the last few years, becoming the fastest growing social media app and inspiring copycats. But behind the scenes, TikTok's owner, ByteDance, has made strategic moves to expand beyond the social media industry.
Last month, Bloomberg reported that the Chinese company paid $1.5 billion for Amcare Healthcare, one of China's largest private hospital chains focusing on care for women and children. Amcare offers a luxury post-pregnancy package that costs $32,000 for a 28-day stay, according to a report by The Information.
ByteDance did not respond to Insider's request for comment about its investments.
ByteDance's most popular brand, TikTok, is not immune to controversy in the US. The company has been accused of spying on users for the Chinese government, which TikTok consistently denies.
Despite the uncertainty around TikTok, ByteDance has quickly grown into the world's most valuable startup, according to the Harvard Business Review.
ByteDance's foray into healthcare is not its only curious investment outside of the social media space. See some of the surprising investments made by TikTok's parent company.