TikTok, meanwhile, told the FT that it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. 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. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. They Refused to Fight for Russia. A Division of NBCUniversal. Standard Digital includes access to a wealth of global news, analysis and expert opinion. "We don't comment on rumors or speculation," a ByteDance spokesperson told CNBC. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring Just Dont Call Them NFTs. 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. Check if your In, Yahoo. 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. 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 Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower, GUANGZHOU, China Beijing-based ByteDance said it would own a majority stake in the new TikTok Global in the U.S., appearing to contradictPresident Donald Trump's claims the deal has "nothing to do with China. ByteDances revenue for 2020 totaled $34.3 billion, up 111% year-on-year. The US is banning the app from federal government devices and numerous states have taken similar measures. dollars)." We want to hear from you. 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%. ", 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. Gain a global perspective on the US and go beyond with curated news and analysis from 600 Brems told the FT that the clips are used without her consent. Even with this stellar growth, TikTok has faced several controversies. Note: Individual country demographics are available in the TikTok Report. Please create an employee account to be able to mark statistics as favorites. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. 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. Which funding types raised the most money? 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. Zhangyue Technology is a China-based developer of the iReader e-book reader. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Source: TikTok Report. 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's latest "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. Learn more about how Statista can support your business. 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. 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. 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. In March 2021, Chew joined ByteDance as its chief financial officer. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. ByteDance's valuation in March 2020 was $105,000 - $140,000M. 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. 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. We are delighted that you'd like to resume your subscription. Got a confidential news tip? You may cancel your subscription at anytime by calling Premium access for businesses and educational institutions. By signing up you agree to our privacy policy. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. Agenda-setting intelligence, analysis and advice for the global fashion community. Trump: Oracle, Walmart must have total control of TikTok. The leadership team of Shou and Vanessa sets the stage for sustained growth, ByteDance CEO Yiming Zhang said in a statement. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. 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. 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 Sheldon Cooper | LightRocket | Getty Images, escalating its regulatory scrutiny of U.S.-listed Chinese companies. 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. "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.. 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. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. 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. 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. 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. 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.
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