TikTok Owner ByteDance’s Annual Revenue Jumps to $34.3 Billion

The Wall Street Journal2021-06-17

ByteDance’s gross profit rose 93% to $19 billion last year, according to a memo to staff ByteDance had about 1.9 billion monthly active users across all its platforms as of December 2020, according to...

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Comments

Pierroye
2021-06-17
Pierroye
Impressive.. like and comment
MTan
2021-06-17
MTan
Tik tik tok tok 好酷
MTan
2021-06-17
MTan
Tiktok
JCinvest
2021-06-17
JCinvest
Nice
AceITAlways
2021-06-17
AceITAlways
Watch this space! This company when listed should be one to hold for the long run!
Bbc123
2021-06-17
Bbc123
Uib

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Kuaishou’s market capitalization was recently about $103 billion, and the company reported 2020 revenues equivalent to about $9.2 billion.\nIn China, TikTok is widely viewed as China’s most successful mobile internet export. The wildly popular short-video app has been downloaded more than 240 million times in the U.S., with teenagers and adults alike posting video clips of themselves lip syncing, dancing and even dishing out financial advice.\nByteDance’s revenues from TikTok come primarily from advertising. The company is also expanding beyond social media into areas such as gaming and e-commerce.\nWhile ByteDance didn’t break down its 1.9 billion monthly active users by app, its scale rivals that of Alphabet Inc.’s YouTube, which reiterated in April that it had more than 2 billion users that log into its site to watch videos. At the end of 2019, ByteDance had about 1.5 billion monthly active users.\nLast year, ByteDance was caught in the crosshairs of U.S.-China relations when former U.S. President Donald Trump’s administration singled out TikTok as a national-security threat and sought to ban the app. This month, President Biden revoked the ban, instead issuing an executive order mandating a broad review of apps controlled by foreign adversaries.\nAt home, ByteDance has also run into some turbulence, as Chinese authorities seek to clamp down on the perceived excesses of its powerful technology sector. ByteDance has been called in by authorities this year for infractions including improper data use and problematic content.\nLast month, Mr. Zhang stepped down from his role as chief executive officer amid growing government scrutiny of the sector. 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This company when listed should be one to hold for the long run!&nbsp;","listText":"Watch this space! This company when listed should be one to hold for the long run!&nbsp;","text":"Watch this space! This company when listed should be one to hold for the long run!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/161882643","repostId":1162768247,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":161880208,"gmtCreate":1623917362104,"gmtModify":1703823440845,"author":{"id":"3561941327587693","authorId":"3561941327587693","name":"Bbc123","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3561941327587693","authorIdStr":"3561941327587693"},"htmlText":"Uib","listText":"Uib","text":"Uib","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/161880208","repostId":1162768247,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":35,"commentSize":15,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1162768247"}