TikTok, known as Douyin in its home market, was launched in China in September 2016. The hard part may be turning the designs into real clothes. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. "Key Financial Figures of Bytedance in 1st Quarter of 2022 (in Billion U.S. Accessed May 01, 2023. https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/, Yahoo. Americas $800bn climate splurge is feeding a new lobbying Student Life Show me more results. As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. 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. 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. Student Exchange. ByteDance visited SCRIPTS; Search. The news comes after Chinese regulators launched a cybersecurity review into homegrown ride-hailing service Didi, which listed on the New York Stock Exchange last month. ByteDance - Funding, Financials, Valuation & Investors "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.. Dollars). 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. ByteDance hired Shou Zi Chew, a former executive at Chinese smartphone maker Xiaomi, as its CFO in March, fueling speculation about a potential IPO. Got a confidential news tip? ByteDance 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 New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and WhatsApp acquired by Facebook). During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Compare Standard and Premium Digital here. Read the original article on Business Insider, TikTok's marketplace being rolled out in the US. Douyin, though, remains ByteDances biggest cash cow. Please create an employee account to be able to mark statistics as favorites. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. We support credit card, debit card and PayPal payments. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. Sign up for free newsletters and get more CNBC delivered to your inbox, Get this delivered to your inbox, and more info about our products and services., 2023 CNBC LLC. It was the seventh-most downloaded app of the 2010s (Data.ai), TikTok had 315 million downloads in Q1 2020, which is a record for quarterly downloads not including Chinese third-party app stores (SensorTower), TikTik was the most positively reviewed app in the US in 2020, with 88% positive reviews (SensorTower), 14% of marketers plan to up their spend in 2021 (HubSpot), however only 3% see it as the most effective social media channel (CivicScience), TikTok was valued at $50 billion by investors in 2020 (Reuters), ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion (SCMP). 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. You may change your billing preferences at any time in the Customer Center or call ByteDance Stock Price, Funding, Valuation, Revenue & Financial TikTok also faced having to sell its operations in the US to a holding company, which would have been controlled by Walmart and Oracle. 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To use individual functions (e.g., mark statistics as favourites, set ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. 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. How many investments has this organization made over time? WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. 2 killed, 4 wounded in Mississippi shooting; man arrested, 150 years later, Dixon bridge tragedy among nation's worst, Presidential candidate Vivek Ramaswamy says he wants to 'shut down the FBI' and replace it with something that sounds a lot like the FBI, Sanders: Biden could win in a landslide, Scam alert: Hackers now targeting you through your smart TV, BBB warns, Don't fall for these wrong number texting scams, Cold calling to be banned under Government plan to target scammers, Cottage garden ideas: Inspiring pictures and ways to transform your backyard whatever its size. (if applicable) for The Wall Street Journal. A Division of NBCUniversal. Statement But in a Chinese-language statement on Monday, ByteDance, the Beijing-based parent company of TikTok, insisted it was not losing control of the social media app., The company said 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. Read on below to find out more. How much funding has this organization raised over time? Statement on ByteDance and TikTok by Treasury Spokesperson Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. The US is banning the app from federal government devices and numerous states have taken similar measures. 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. Filter by: Select year: Date Filing Type Filing Description Download / View. In a post on Douyin in October, Mo gloated, "we were the first ones to use doctors, people are calling us the Doctor Group now, it's hilarious," and showed how his team pieced video clips together in their offices and posted them under TikTok handles such as @dr.kara0, dr_merlin and doctor_mccree, among dozens others, the FT said. ByteDance posts record profit despite TikTok losses Booming 2022 helps it overtake Chinas long-reigning tech giants Tencent and Alibaba for first time March 29 All rights reserved. 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. At just 10 years old, ByteDance, the most valuable startup in the world, has shattered records for growth. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Events & Presentations. 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. Got a confidential news tip? WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. ByteDance had prior experience on running wildly popular apps, as the operator of AI-powered news aggregation platform Toutiao. ByteDance financials. 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. For more information read our Terms & Conditions. You can still enjoy your subscription until the end of your current billing period. or 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. This extensionwill provide the partiesand the Committeeadditionaltimeto resolve this case in a mannerthat complies with the Order. ", 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. The Beijing-based tech giant had been weighing an initial public offering of all or some of its businesses in the U.S. or Hong Kong, the Wall Street Journal reported on Monday, citing people familiar with the matter. It is expected to surpass 1 billion monthly active users by the end of 2021. Get full access to all features within our Business Solutions. ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. Note: Individual country demographics are available in the TikTok Report. Bored Apes New Boss Seeks to Revive NFTs Through Gaming, Events, AI Is Really Good at Designing Knitwear (Belts, Not So Much), Zegnas Made-To-Measure Business Is Getting a Tech Upgrade. 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 Financial Matters. TikTok Owner ByteDances Revenue Growth Slowed Last Year ByteDance TikTok ban is the least palatable of options | Reuters ByteDance ByteDance 2021 financials: $61.7bn revenues and a $7bn loss In the previous financial year, ByteDance had an operating profit of $684M. Note: Values are monthly active users in Q2 of the respective year. 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. October 7, 2022. 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. Last year the tech group as a whole made a ByteDance Company Profile: Funding & Investors | PitchBook 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. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Get the full list 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? Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. ByteDance's valuation in March 2020 was $105,000 - $140,000M. Mo told the FT that he was joking; he couldn't be reached by Insider. However, President Trumps executive order has been canned by the Biden Administration. ByteDance ByteDances profit last year came despite mounting losses at fast-growing TikTok, according to the Financial Times. Analysis and advice on how technology is disrupting fashion and creating new opportunities. Market Hotels.com Coupon - 30% Off Hotel Stays + More, Mother's Day promo - 60% off select Hotel and Car hires with Hotwire, Mother's Day sale: Extra $100 Off Barcelo Promo Code, 30% off Booking.com promo code with flash sale deals, Exclusive Expedia coupon - Save 25% or more + Extra 5%, Epsteins Private Calendar Reveals Prominent Names, Including CIA Chief, Goldmans Top Lawyer, The Building Boom Is Prolonging Market Pain, We Hope Your iPhone Never Gets Stolen. personalising content and ads, providing social media features and to TikTok Owner ByteDance Reveals that Its Annual Revenue Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. The Presidents August 6 Order is separate from his August 14 Order and addresses risks to U.S. national security by prohibiting specified transactions with ByteDance or its subsidiaries pursuant to the Presidents authority under the International Emergency Economic Powers Act. ByteDance All Rights Reserved. HSBC names 4 Chinese stocks set to benefit from the trend, Goldman thinks the trade right now is on China's economy and gives 2 U.S. stocks to play it, This France ETF is booming despite domestic turmoil. ByteDance ByteDance's latest offers FT membership to read for free. dollars)." It didn't immediately respond to Insider's request for comment. TikTok videos produced in China are trying to rip people off with WebSEC Filings. The ideal entry-level account for individual users. Meanwhile, it told the FT that it takes down content that violates its guidelines. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. ByteDance - Inspire Creativity, Enrich Life He added ByteDance would just be a "passive shareholder. ByteDance financial For a full comparison of Standard and Premium Digital, click here. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Show publisher information 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. Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) [Graph]. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. From there, TikTok snowballed into the most popular app in 2019 and 2020. Oracle and Walmart said in a joint statement on Saturday that the global TikTok business will pay over $5 billion in new taxes to the U.S. Treasury Department., ByteDance clarified on Monday, however, that this is just a "forecast" of corporate taxes and other taxes that TikTok Global will need to pay for business development over the next few years. 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. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Before ByteDance's Chinese statement on Monday, CNBC reported the company would retain an 80% stake in TikTok Global. 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. The net loss for the financial year ending December 2020 was $45 billion, and it was a TikTok Owner ByteDances Annual Revenue Jumps to $34.3 Billion ByteDance | Financial Times ByteDance founder Zhang Yiming decided it would be best to postpone the planned IPO indefinitely in late March after meetings with cyberspace and securities regulators who told the company to address data security and other issues, according to the Journal. Data is a real-time snapshot *Data is delayed at least 15 minutes. The figures were disclosed to a small group of You will be charged 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. ByteDance's majority ownership appears to refute a claim made by President Donald Trump that the deal "will have nothing to do with China. Nike Has a Plan to Take Digital Goods Mainstream. It was downloaded 693 million times in 2019 and 850 million times in 2020. 20 January 2022. Learn more about how Statista can support your business. All Rights Reserved. TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. Programmes. Please do not hesitate to contact me. In, Yahoo. The Premium Bytedance Company Report contains critical information including: Revenue from previous years (2010 to present) Growth rate Estimated Dont Be So Sure, Opinion: Randi Weingartens Incredible Covid Memory Loss, WSJ Opinion: Feeling Lucky, Democrats Back Non-Compos Presidential Politics, What the FDIC Does to Protect Deposits When Banks Fail, The Hidden iPhone Setting Thieves Use to Lock People Out of Apple Accounts, Dylan Mulvaney Speaks Out Following Bud Light Ad Controversy. Customer Service. Migrants find tips on Chinese version of TikTok for long trek to You only have access to basic statistics. 2022 The Business of Fashion. In March 2021, Chew joined ByteDance as its chief financial officer. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. ByteDance also allowed the Chinese government to take a special management stake in one of its Chinese subsidiaries in late 2019, Reuters reported in 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.". Currently, you are using a shared account. 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%. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. Nov 9, 2022 In the first quarter of 2022, TikTok's parent ByteDance reported 18.3 billion U.S. dollars in revenues, increased by nearly 54 percent compared to the It will have nothing to do with any outside land, any outside country, it will have nothing to do with China," Trump said. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. Agenda-setting intelligence, analysis and advice for the global fashion community.

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