TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. However, TikTok is not being acquired and will have the majority stake. Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) [Graph]. Compare Standard and Premium Digital here. ByteDance has raised a total of $9.5B in funding over 12 rounds. or All Rights Reserved. No access to the company, no decision-making authority, to ability to peer into what they're doing; just a passive shareholder," Pompeo said, according to an official transcript., Trump has also previously said the U.S. Treasury should get a cut of any deal involving TikTok. Read on below to find out more. ByteDance's majority ownership appears to refute a claim made by President Donald Trump that the deal "will have nothing to do with China. TikTok has repeatedly denied this.. Marketplace | News & Insights | Data | Events, HBO Max Revenue and Usage Statistics (2023), YouTube Revenue and Usage Statistics (2023), Disney Plus Revenue and Usage Statistics (2023), Netflix Revenue and Usage Statistics (2023), Video Streaming App Revenue and Usage Statistics (2023), Twitch Revenue and Usage Statistics (2023), September 2016 (China); September 2017 (International), Liang Rubo (ByteDance CEO), Shouzi Chew (TikTok CEO), Vanessa Pappas (TikTok COO), TikTok Revenue and Usage Statistics (2023), TikTok generated an estimated $4.6 billion revenue in 2021, a 142% increase year-on-year, TikTok had 1.2 billion monthly active users in Q4 2021 and is expected to reach 1.8 billion by the end of 2022, In China, TikTok is accessed by over 600 million users daily, TikTok has been downloaded over three billion times. It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. Now that TikTok users are beginning to catch on, Mo's team has moved to selling legitimate goods on TikTok's marketplace being rolled out in the US. All Rights Reserved. In 2019, he became Xiaomi's foreign business president. Butbecause 40% of ByteDance is owned by U.S. venture capital firms, the Trump administration can technically claim TikTok Global is now majority owned by U.S. money. We are delighted that you'd like to resume your subscription. organisation Even though it only launched in 2017, TikTok was the seventh-most downloaded app of the 2010s, and looks to be a true competitor against Facebooks grip on social networking in the West. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. Oracle would become the secure cloud provider and host American users' data in the country.. Even with the slowdown in downloads due to Indias ban and both Facebook and Snapchat launching clones of TikTok, the app remains one of the fastest growing in the world. Which funding types raised the most money? Get full access to all features within our Business Solutions. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Instagram accounts with the most followers worldwide 2023, Number of apps available in leading app stores Q3 2022, Most popular global mobile messaging apps 2023, Twitter: number of monthly active users 2010-2019, Internet usage in India - statistics & facts, Profit from additional features with an Employee Account. Amcare Women's and Children's Hospital acquired by ByteDance, Wuhan Hezhong Yibao Technology acquired by ByteDance, Total amount raised across all funding rounds, Total number of lead investment firms and individual investors, Announced Date: Date that the Funding Round was publicly announced, Transaction Name: Auto-generated name of transaction (e.g. Lots of unfamiliar swamp creatures turned up, too, when they realised that having the ear of the last person to speak to Mr Trump before he made a big decision was lobbying gold. They're pedaling products like fake weight loss coffee and acne medicine, the FT found. He added ByteDance would just be a "passive shareholder. They Refused to Fight for Russia. In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. Show publisher information I didn't have any access to the company's information. Note: Individual country demographics are available in the TikTok Report. The Premium Bytedance Company Report contains critical information including: Revenue from previous years (2010 to present) Growth rate Estimated You only have access to basic statistics. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Simply log into Settings & Account and select "Cancel" on the right-hand side. The first AI Fashion Week offered a convincing showcase for AI-generated fashion. "Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. TikTok owner ByteDance made a net profit of $3 billion last year, according to a report from Bloomberg on Wednesday that cited people familiar with the matter. Bloomberg reported last week that ByteDances revenue surged more than 30 percent to surpass $80 billion in 2022, matching the tally at archrival Tencent, after twin video platforms TikTok and Douyin drew eyeballs and advertisers from social media incumbents. Short video app Douyin, owned by TikTok owner ByteDance, is one of the main sources of the Chinese tech giant's revenue overall, Reuters previously reported. By. ByteDance was considering an IPO of all or some of its businesses in the U.S. or Hong Kong, the Wall Street Journal reported on Monday. $ + tax Which investors participated in the most funding rounds? While many Chinese apps have failed to succeed outside of China, most notably Tencents WeChat, TikTok managed to push itself into the overseas market through the acquisition of Musical.ly in November 2017 for $1 billion. Thank the Chinese consumer. 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ByteDances revenue for 2020 totaled $34.3 billion, up 111% year-on-year. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Get this delivered to your inbox, and more info about our products and services. The Law Did Not Treat Them Kindly. Business Solutions including all features. offers FT membership to read for free. ByteDance had other reasons for delaying the listing, including the fact that it didn't have a chief financial officer at the time, the Journal reported. "Key Financial Figures of Bytedance in 1st Quarter of 2022 (in Billion U.S. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App "We don't comment on rumors or speculation," a ByteDance spokesperson told CNBC. Already a subscriber? Financials. WebByteDance was founded in 2012 by a team led by Yiming Zhang and Rubo Liang, who saw opportunities in the then-nascent mobile internet market, and aspired to build In January, Mo posted a video to Douyin, ByteDance's short-form video app in China, where he said, "I do TikTok to rip people off," the FT reported, adding that Mo's main account was removed after the publication flagged it and requested a comment from ByteDance. !function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async"); TikTok reached one billion users in the third quarter of 2021 and is expected to reach 1.8 billion by the end of 2022. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The FT's report mentioned a seller named Mo Huabin whose company posts videos of products that appear to violate ByteDance's guidelines. The FT's investigation found multiple accounts selling products that appeared to violate the guidelines of TikTok's parent company, ByteDance, including those promoting weight loss teas and coffees, acne medications, and skin whitening products. Tencent reported Ebitda of 164 billion yuan ($23.9 billion) for 2022 in its preliminary earnings statement, while Alibabas figure for the same period is about $22.7 billion, according to Bloomberg-compiled data. Note: Values are monthly active users in Q2 of the respective year. In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. All rights reserved. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. The Presidents August 14 Order requires ByteDance and TikTok Inc. to undertake specific divestments and other measures to address the national security risk arising from ByteDances acquisition of Musical.ly. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring possible collaboration in Privacy-preserving Technologies, as well as a tour of NTU SCRIPTS Centre. The sneaker giant is launching its first big collection of digital goods under its own name after signing up more than 330,000 members to its new web3 platform, .Swoosh. As part of the deal, Oracle, Walmart and ByteDance agreed to list TikTok Global on an American stock exchange within 12 months., TikTok faced being shut down on Sunday but that decision has now been delayed for a week, according to the Department of Commerce.. India banned the app again in June 2020, along with a spate of other Chinese-based apps, as tensions between China and India heightened. Dollars). October 7, 2022. Just Dont Call Them NFTs. She added that she regularly flags videos on weight loss coffee and male enhancement on TikTok, though the platform ultimately often tells her the videos aren't in violation of its policies, she said. The Chinese internet company has managed to find success internationally with TikTok, the short video app popular for dancing and lip syncing. Advertising is a key part of ByteDances revenue on its platforms, but it has started pushing into new areas such as gaming and is pitting itself against some of Chinas other tech giants like Tencent. Sheldon Cooper | LightRocket | Getty Images, escalating its regulatory scrutiny of U.S.-listed Chinese companies. Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. Earnings before interest, tax, depreciation and amortisation, or Ebitda, jumped 79 percent to about $25 billion in 2022, the report said, citing two investors briefed on the numbers. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. You can still enjoy your subscription until the end of your current billing period. ByteDance, the Chinese owner of TikTok, reportedly scrubbed plans for an offshore listing after government officials asked the company to focus on data security risks. Student Exchange. Their latest funding was raised on Mar 15, 2023 from a Secondary Market round. For more information read our Terms & Conditions. Customer Service. Last year the tech group as a whole made a Originally launched as a short-form video sharing platform, primarily for lipsyncing and dancing videos, TikTok has grown into a fully-fledged video service, with content available for all types of viewers. ByteDance's latest Source: App Ape. In 2019, he became Xiaomi's foreign business president. personalising content and ads, providing social media features and to "So it'll close down on Sept. 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so that the Treasury of the United States gets a lot of money," Trump said at that time.. The Chinese technology firm added that the tax will need to be determined according to how TikTok Global develops, noting that the $5 billion figure has "nothing to do" with deal with Oracle and Walmart., Oracle will also get to inspect the source code for TikTok, but ByteDance said it will not be transferring algorithms or technology to the U.S. firm., Washington claims that TikTok represents a national security threat because it collects U.S. user data which can be accessed by Beijing. A majority of TikTok users are aged under 30, with the largest age bracket aged between 20 and 20 years old. ByteDances Profit Surges 79%, Exceeding Alibaba and Tencent Tencent reported Ebitda of 164 billion yuan ($23.9 billion) for 2022 in its preliminary earnings statement, while Alibabas figure for the same period is about $22.7 billion, according to Bloomberg-compiled data. Images or B-rolls on this page may be used only for editorial purposes, and Sign up for free newsletters and get more CNBC delivered to your inbox. Data is a real-time snapshot *Data is delayed at least 15 minutes. The company said that it plans to carry out a small round of pre-IPO (initial public offering) financing that will give ByteDance an 80% stake in TikTok Global. 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Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. Please create an employee account to be able to mark statistics as favorites. Its new digital tool makes it easier for clients to customise products in any combination of colours and fabrics they like, as long as they dont try to mix a pink jacket with yellow pants. By signing up you agree to our privacy policy. Currently, you are using a shared account. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. Its operating loss was $2.1 billion after posting a profit the year before. TikTok owner ByteDance saw its total revenue grow by 70 percent year-on-year to around $58 billion in 2021, according to two people familiar with the matter, slower growth than a year earlier as China tightens its regulation of big tech companies. The Financial Times reported in August that ByteDance was seeking to go public in Hong Kong by early next year. For Daniel Alegre, the former Activision Blizzard Inc. executive who joined Yuga as chief executive officer last month, NFTs still have a bright future by serving as a room key to a world of gaming, events and e-commerce. TikTok, known as Douyin in its home market, was launched in China in September 2016. TikTok was the most downloaded app in 2020 and 2021 and peaked at 318 million downloads in Q1 2020, a record for quarterly downloads outside of China. What is ByteDances valuation? Use Ask Statista Research Service, Market value of the largest internet companies worldwide 2023, Highest valued unicorn companies worldwide 2022, Most-followed idols on Douyin in China 2022, Ranking of the 22 richest people in China as of 2022. WebRevenue at Chinese social-media giant ByteDance Ltd. rose by about 70% last year to roughly $58 billion, slowing from a year earlier, people familiar with the matter said, as Meanwhile, it told the FT that it takes down content that violates its guidelines. Missed the A.I. Are you interested in testing our business solutions? You may cancel your subscription at anytime by calling Data is a real-time snapshot *Data is delayed at least 15 minutes. ByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. ByteDance's valuation in March 2020 was $105,000 - $140,000M. ByteDance's latest post-money valuation is from March 2023. Sign up for a free trial to see ByteDance's valuations in March 2023, November 2018 and more. ByteDance's 2020 revenue was $25B. Market You may change or cancel your subscription or trial at any time online. To use individual functions (e.g., mark statistics as favourites, set "It's like whack a mole there's hundreds of accounts," selling scam items, Brems told the FT. "Most people will not fall for it, but if an account is seen by enough people, eventually some people will buy. Which industries has this organization had the most exits in? Published on 18 Apr 2022 ByteDance visited SCRIPTS. WebSEC Filings. The ideal entry-level account for individual users. Statement on ByteDance and TikTok by Treasury Spokesperson Monica Crowley November 13, 2020 The Presidents August 14 Order requires ByteDance and Profit from the additional features of your individual account. The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. Want to learn more about social apps? But Just in Case, JPMorgan, PNC Submit Bids to Buy First Republic in Government-Led Sale, Priced Out of Florida, More Retirees Are Trying This Sunbelt State on For Size, Opinion: The Blue State Exodus Accelerates, Opinion: Justice Samuel Alito: This Made Us Targets of Assassination, Opinion: Biden vs. Trump in 2024? WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. That double-digit growth topped most of the global internet leaders including Meta Platforms Inc. and Amazon Inc., underscoring the resilience of ByteDances business at a time Washington is threatening to join India in banning TikTok, which a growing number of government agencies across the world are wiping from official phones. It didn't immediately respond to Insider's request for comment. It was downloaded 693 million times in 2019 and 850 million times in 2020. Student Life Show me more results. Financial Matters. We support credit card, debit card and PayPal payments. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. ByteDance had prior experience on running wildly popular apps, as the operator of AI-powered news aggregation platform Toutiao. In April, the company said it had no immediate plans to go public. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. On Thursday, ByteDance shared its financial report for the year 2019 to 2020 with the employees, saying that the companys revenue grew by 111% in one year. As per the companys memo, seen by Wall Street Journal, the gross profit for the year was $19 billion, 93% growth compared to the previous years results. ByteDance and Its Growing Revenue Statement by Secretary Steven T. Mnuchin on the Presidents Decision Regarding the Acquisition by ByteDance Ltd. of the U.S. Business of musical.ly August 14, 2020 WASHINGTON As chair of the Committee on Foreign Investment in the United States (CFIUS), U.S. Treasury Secretary Steven T. Mnuchin today issued the following The news comes after Chinese regulators launched a cybersecurity review into Didi, which listed on the New York Stock Exchange last month. In March 2021, Chew joined ByteDance as its chief financial officer. We want to hear from you. university cookies This extensionwill provide the partiesand the Committeeadditionaltimeto resolve this case in a mannerthat complies with the Order. TikTok may have a global user base of more than 1 billion people, but within its home country of China, the app has given rise to a "cottage industry" of scammers pedaling dubious products to viewers abroad, the Financial Times reported.