Former ByteDance TRAE leader Shi Yang departs and co-founds a $200M AI office startup with Fu Yue

ChainCatcher report, according to Dongcha news, Shi Yang, former head of ByteDance’s AI coding tool TRAE, is reported to have left prior to National Day. It is said that he plans to co-found a startup with Fu Yue, former head of AI data and security at ByteDance, focusing on AI productivity tools. The project is reportedly completed its seed round with a valuation of approximately $200 million; however, the company name, exact funding amount, and investors have not been disclosed. Shi Yang’s LinkedIn profile shows his tenure at ByteDance ended in September, and his new role is listed as an undisclosed startup venture. He joined ByteDance in 2024, initially leading DouBao MarsCode and later TRAE; previously, he founded Yufu Tech, an enterprise identity management company later acquired by Tencent. Fu Yue was previously in charge of ByteDance’s AI training data business and was reported to have left in August. In the same month, the TRAE team merged into the DouBao ecosystem and began reporting to Zhao Qi, head of DouBao. On October 9, TRAE announced the merger of TraeWork and TraeCode into a single product.