Its chief executive sat through a hostile congressional hearing, during which he did little to sway some of the loudest critics. All Rights Reserved. The ideal entry-level account for individual users. You may cancel your subscription at anytime by calling 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. "Key Financial Figures of Bytedance in 1st Quarter of 2022 (in Billion U.S. 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. In March 2021, Chew joined ByteDance as its chief financial officer. All rights reserved. Agenda-setting intelligence, analysis and advice for the global fashion community. By. Check if your In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. Data is a real-time snapshot *Data is delayed at least 15 minutes. Sheldon Cooper | LightRocket | Getty Images, escalating its regulatory scrutiny of U.S.-listed Chinese companies. ByteDance A Division of NBCUniversal. Student Life Show me more results. Americas $800bn climate splurge is feeding a new lobbying Annual Report on Bytedance's Revenue, Growth, SWOT You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. 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. 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 About Snap. However, President Trumps executive order has been canned by the Biden Administration. 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. Show publisher information or 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. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. Sign In. A majority of TikTok users are aged under 30, with the largest age bracket aged between 20 and 20 years old. Financial Matters. TikTok Owner ByteDance 2020 $34.4 Billion USD Revenue 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. ByteDance Stock Price, Funding, Valuation, Revenue & Financial Which industries has this organization had the most exits in? Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Got a confidential news tip? and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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 Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. 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. university Learn more about how Statista can support your business. Related Topics Partnerships Industry Research Technology TikTok has rapidly increased its revenue generation in the past few years. "It'll be a brand new company. India banned the app again in June 2020, along with a spate of other Chinese-based apps, as tensions between China and India heightened. Snap From there, TikTok snowballed into the most popular app in 2019 and 2020. 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. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. It is expected to surpass 1 billion monthly active users by the end of 2021. Statista. Want to learn more about social apps? 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. Reuters. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. ByteDance hired Shou Zi Chew, a former executive at Chinese smartphone maker Xiaomi, as its CFO in March, fueling speculation about a potential IPO. Note: Individual country demographics are available in the TikTok Report. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. Which industries has this organization most actively invested in? Got a confidential news tip? You may change or cancel your subscription or trial at any time online. 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 ByteDance's valuation in March 2020 was $105,000 - $140,000M. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. Sign up for free newsletters and get more CNBC delivered to your inbox. You only have access to basic statistics. The Financial Times reported in August that ByteDance was seeking to go public in Hong Kong by early next year. 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? The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. 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. 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 You can opt out anytime. Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. TikTok videos produced in China are trying to rip people off with ByteDance quarterly financial figures 2022 | Statista It didn't immediately respond to Insider's request for comment. Oracle and Walmart will have minority stakes in TikTok Global. Nike Has a Plan to Take Digital Goods Mainstream. Financials. organisation In March 2021, Chew joined ByteDance as its chief financial officer. The leadership team of Shou and Vanessa sets the stage for sustained growth, ByteDance CEO Yiming Zhang said in a statement. ". ByteDance Financials | Craft.co ByteDance TikTok ban is the least palatable of options | Reuters He added ByteDance would just be a "passive shareholder. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. Angel - Uber), Number of Investors: Total number of Investors in a Funding Round, Money Raised: Amount of money raised in Funding Round, Lead Investors: Name of the investor who led the investment in the funding round, Total number of investment firms and individual investors, Investor Name: Name of the investor who participated in the Investment, Lead Investor: This field indicates whether an investor led/organized the investment, Funding Round: Name of the funding round where the Investment is made, Partners: Name of the individual who led a funding round for his/her firm, Announced Date: Date when the Investment is announced, Organization Name: Name of the organization that received the investment, Acquiree Name: Name of the acquired organization, Announced Date: Date the acquisition was announced, Transaction Name: Auto-generated name of transaction (e.g. ByteDance key financial figures 2021 | Statista TikTok Owner ByteDances Revenue Growth Slowed Last Year It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. ByteDance WhatsApp acquired by Facebook). Market ByteDance - Funding, Financials, Valuation & Investors

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