2023 CNBC LLC. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. 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. Are you interested in testing our business solutions? In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. 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. dollars)." We want to hear from you. As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. All Rights Reserved. It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. "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. ByteDance Company Profile: Funding & Investors | PitchBook Financial WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. 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.. ByteDance told employees in an email on Wednesday the firm would be offering stock options at US$155 per share, according to a report by Chinese media outlet The Paper. ByteDance - Inspire Creativity, Enrich Life 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. "It'll be a brand new company. Get this delivered to your inbox, and more info about our products and services. How much funding has this organization raised over time? Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. TikTok ban is the least palatable of options | Reuters India banned the app again in June 2020, along with a spate of other Chinese-based apps, as tensions between China and India heightened. The New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and Its chief executive sat through a hostile congressional hearing, during which he did little to sway some of the loudest critics. 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. 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 FT contended that types of scam accounts have survived on TikTok due to the platform's "hands off" approach to regulating content and its algorithms that are designed to allow "any video to gain traction.". TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. The US is banning the app from federal government devices and numerous states have taken similar measures. ByteDance says it Analysis and advice on how technology is disrupting fashion and creating new opportunities. He added ByteDance would just be a "passive shareholder. cookies "TikTok prioritizes profit over the regulation of goods on its platform," one TikTok senior executive with knowledge of decision-making in ecommerce said in the FT's report. 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. We use TikTok Revenue and Usage Statistics (2023) - Business China's ByteDance, owner of TikTok, saw revenue surge 111% in !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. In April, the company said it had no immediate plans to go public. 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. TikTok Owner ByteDance 2020 $34.4 Billion USD Revenue | Hypebeast TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020 Gross profits increased by 93%. Check out our Social App Report, TikTok is used by 18% of global internet users aged 16 to 64 (GlobalWebIndex), Outside of China, TikToks largest markets are the US, Indonesia and Brazil, TikTok had 190 million users in India, making it the apps second largest market behind China, TikTok reached 3 billion downloads in June 2021. ByteDance 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. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. or 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. 2022 The Business of Fashion. The Law Did Not Treat Them Kindly. 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. And even if they are taken down, Brems said it's a difficult process. Learn more about how Statista can support your business. $ + tax personalising content and ads, providing social media features and to Sign up for free newsletters and get more CNBC delivered to your inbox. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. Last year the tech group as a whole made a "Brems also told Insider via Instagram message that "there's numerous fake accounts of me promoting nonsense 'weight loss' coffee.". "We see a higher mountain peak ahead, a bigger opportunity, so we're not only going to be making money selling goods, we're turning into a company with sustainable operations, logistics and a team of influencers," Mo said. It was downloaded 693 million times in 2019 and 850 million times in 2020. Got a confidential news tip? 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WebSEC Filings. TikTok Owner ByteDances Annual Revenue Jumps to $34.3 Billion ByteDance key financial figures 2021 | Statista TikTok ban is the least palatable of options | Reuters It is expected to surpass 1 billion monthly active users by the end of 2021. journalists in 50+ countries covering politics, business, innovation, trends and more. analyse how our Sites are used. The current status of the Department of Commerces implementation of the August 6 Order can be found here. 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. A Division of NBCUniversal. ByteDance, TikToks Chinese parent, reports a record profit The privately held company on Thursday shared highlights of its 2020 financial performance with its employees. ByteDance said its total revenue grew 111% from a year ago, while gross profit rose 93% to $19 billion, according to excerpts of a company memo viewed by The Wall Street Journal. Statement How many investments has this organization made over time? Note: Values are monthly active users in Q2 of the respective year. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Some of Mo's company's videos rely on clips of Dr. Dana Brems, a podiatrist and social media influencer based in Los Angeles, to lend credibility to their claims, the FT reported. 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. Currently, you are using a shared account. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. university This added 80 million users, mostly in the US, which TikTok then imported to its own platform. ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. However, President Trumps executive order has been canned by the Biden Administration. TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. ByteDance said its total revenue grew 111% from a year ago, while gross profit rose 93% to $19 billion, according to excerpts of a company memo viewed by The Wall Street Journal. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. Compare Standard and Premium Digital here. WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. 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WebFund Summaryas of December 31, 2022 4 2022 B LAC KR OA N U R EP RT S H D S BlackRockAdvantage Large Cap Core Portfolio Investment Objective BlackRockAdvantage Large Cap Core Portfolios (the Fund) investment objective is to seek long-term capital appreciation. In 2019, he became Xiaomi's foreign business president. In March 2021, Chew joined ByteDance as its chief financial officer. ", Yahoo, Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/ (last visited May 01, 2023), Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) [Graph], Yahoo, October 7, 2022. ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App ByteDance visited SCRIPTS; Search. You may change or cancel your subscription or trial at any time online. Just Dont Call Them NFTs. The Chinese social media behemoth was valued at around $220 billion in a recent private-market investment by Abu Dhabi AI firm G42, down from the $300 billion that TikToks owner set during a September share buyback program. The hard part may be turning the designs into real clothes. ", On Saturday, Trump gave his blessing to a deal that would see Oracle and Walmart take a minority stake in a U.S.-headquartered company called TikTok Global. This extensionwill provide the partiesand the Committeeadditionaltimeto resolve this case in a mannerthat complies with the Order. ", "I used to do oil deals all the time. Statista. TikTok has rapidly increased its revenue generation in the past few years. The leadership team of Shou and Vanessa sets the stage for sustained growth, ByteDance CEO Yiming Zhang said in a statement. It will have nothing to do with any outside land, any outside country, it will have nothing to do with China," Trump said. Douyin, though, remains ByteDances biggest cash cow. In January, ByteDance launched a new payments service within Douyin to experiment with financial technology. 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. ByteDance also allowed the Chinese government to take a special management stake in one of its Chinese subsidiaries in late 2019, Reuters reported in 2021. TikToks China-based parent company ByteDance said on Thursday that a small group of employees inappropriately obtained personal data of US TikTok users and are no longer employed at ByteDance. Got a confidential news tip? Portfolio Management Commentary In, Yahoo. Agenda-setting intelligence, analysis and advice for the global fashion community. You may cancel your subscription at anytime by calling 20 January 2022. ByteDances profit last year came despite mounting losses at fast-growing TikTok, according to the Financial Times. The first AI Fashion Week offered a convincing showcase for AI-generated fashion. 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. TikTok Owner ByteDance Reveals that Its Annual Revenue You will be notified in advance of any changes in rate or terms. Read the original article on Business Insider, TikTok's marketplace being rolled out in the US. TikTok has repeatedly denied this.. TikTok, known as Douyin in its home market, was launched in China in September 2016. The figures were disclosed to a small group of Meanwhile, it told the FT that it takes down content that violates its guidelines. In 2019, India and Pakistan banned it for morality issues, with both bans being rescinded after a while. It didn't immediately respond to Insider's request for comment. 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. Source: TikTok Report. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. The FT said in its report that it had flagged 25 products in TikTok's UK marketplace; TikTok said those products have since been removed. For more on ByteDance's shelved IPO plans, you can read the full story from the Journal here. SINGAPOREByteDance Ltd., the owner of popular short-video app TikTok, told employees that its revenue last year more than doubled to $34.3 billion, underscoring why the Chinese technology giant is one of the worlds hottest startups. 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Available: https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/, Key financial figures of ByteDance in 1st quarter of 2022, Digital advertising revenue for major internet companies 2022-2026, Most valuable internet companies in China 2022, Number of app users of leading online companies in China 2022, Leading Chinese private companies with market value rise in 2022, Key financial figures of ByteDance Q1 2022, Revenue breakdown of ByteDance 2021, by segment, Estimated ad revenue of ByteDance 2016-2021, Estimated global ad revenue of ByteDance 2022, by platform, Leading apps in China 2022, by monthly active users, Most-followed influencers on Douyin in China 2022, Live streaming usage rate on Douyin (TikTok) in China 2020-2022, GMV of live streaming shopping on Douyin in China 2018-2022, Most successful Douyin sales influencers in China 2022, TikTok global monthly active users 2018-2021, Growth of TikTok Google Play downloads worldwide Q2 2022, by country, Most-followed English-language TikTok creators worldwide 2022, TikTok user engagement in selected markets 2020-2022, TikTok quarterly user spending worldwide 2020-2021, Highest-earning apps owned by ByteDance 2023, Most popular apps owned by ByteDance 2023, Monthly active users of leading short video apps in China 2022, Monthly active users of leading news apps in China 2021, Leading markets of ByteDance's Toutiao 2023, ByteDance: gaming apps mobile player spending worldwide 2021-2022, Number of ByteDance patents by filing year and legal status worldwide 2009-2021, Healthcare patents of technology companies Microsoft, Apple, and Google 2009-2017, Investor funding in digital health industry 2010-2022, Funding in top deals in digital health industry 2022, Investments in most active U.S. metro area in digital health industry 2022, Investment deal count in most active US metro area in digital health 2022, Investment deal count in digital health industry globally 2010-2021, Investments in most active global metro areas in digital health outside the U.S. 2021, Investment deal count in most active metro areas in digital health outside U.S. 2021, Alternative finance transaction volume per capita in Europe 2020, by country, Share of mobile app usage time in China 2022, by company, Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports. Snap Data is a real-time snapshot *Data is delayed at least 15 minutes. Trump: Oracle, Walmart must have total control of TikTok. One of the videos promoting regular coffee as "enzyme" weight loss coffee at $124 for a "3-treatment plan" went viral and drew in a slew of orders, the FT said.
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