Chart. 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. Show publisher information 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. The hard part may be turning the designs into real clothes. 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. Then you can access your favorite statistics via the star in the header. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. ByteDance - Funding, Financials, Valuation & Investors We want to hear from you. TikTok has a new CEO TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. TikTok Owner ByteDance Reveals that Its Annual Revenue ByteDance financial WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. 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. 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. A majority of TikTok users are aged under 30, with the largest age bracket aged between 20 and 20 years old. All rights reserved. Related Topics Partnerships Industry Research Technology Financial Matters. 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. 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. Shou Zi Chew - Wikipedia 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. In 2021, China's government bought a 1% stake in the main domestic unit of TikTok owner ByteDance. From there, TikTok snowballed into the most popular app in 2019 and 2020. ByteDance Financials | Craft.co Get full access to all features within our Business Solutions. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring However, TikTok is not being acquired and will have the majority stake. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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. Source: App Ape. TikTok also faced having to sell its operations in the US to a holding company, which would have been controlled by Walmart and Oracle. 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. Sheldon Cooper | LightRocket | Getty Images, escalating its regulatory scrutiny of U.S.-listed Chinese companies. rally? 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. A Division of NBCUniversal. What is ByteDances valuation? TikTok ban is the least palatable of options | Reuters Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Analysis and advice on how technology is disrupting fashion and creating new opportunities. The Beijing-based company reportedly decided to postpone the plans indefinitely after regulators told it to focus on data security risks. personalising content and ads, providing social media features and to Financials. 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. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. 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. 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. Customer Service. 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 ByteDances Revenue Growth Slowed Last Year In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Dollars). By. You may change or cancel your subscription or trial at any time online. Just Dont Call Them NFTs. Oracle would become the secure cloud provider and host American users' data in the country.. 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 key financial figures 2021 | Statista Currently, you are using a shared account. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. Get the full list TikTok is used by more women than men, but that gap is closing as it loses its stigma for being an app for teenagers and dancing. You can opt out anytime. 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.. WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. 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This extensionwill provide the partiesand the Committeeadditionaltimeto resolve this case in a mannerthat complies with the Order. 2023 CNBC LLC. analyse how our Sites are used. In 2021, it generated $4.6 billion, a 142% increase year-on-year. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. We support credit card, debit card and PayPal payments. Douyin, though, remains ByteDances biggest cash cow. 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. 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. 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 BlackRock In 2019, he became Xiaomi's foreign business president. TikTok owner ByteDance reportedly made a profit of $3 billion on ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. Reuters. 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. TikTok Owner ByteDances Annual Revenue Jumps to $34.3 Billion 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. 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. For a full comparison of Standard and Premium Digital, click here. I didn't have any access to the company's information. In March 2021, Chew joined ByteDance as its chief financial officer. "It'll be a brand new company. TikTok has attracted a "cottage industry" of scammers, the FT says, citing dodgy items being hawked. Learn more about how Statista can support your business. Last year the tech group as a whole made a 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. In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. "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. Oracle and Walmart will have minority stakes in TikTok Global. Yahoo. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Statement on ByteDance and TikTok by Treasury Spokesperson Monica Crowley November 13, 2020 The Presidents August 14 Order requires ByteDance and You can still enjoy your subscription until the end of your current billing period. And even if they are taken down, Brems said it's a difficult process. Their latest funding was raised on Mar 15, 2023 from a Secondary Market round. Got a confidential news tip? The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. Migrants find tips on Chinese version of TikTok for long trek to 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%. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. The New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and The The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information 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. Filter by: Select year: Date Filing Type Filing Description Download / View. 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. TikTok has high amounts of usage in all regions and has over 300 million users in Asia-Pacific region, which does not include China and India. As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. ByteDance Apart from its flagship short video 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. Customer Service. Zhang Yiming, the founder and CEO of ByteDance, incorporated a similar AI-platform into TikTok, which is able to identify a users interests and feed them more relevant videos. Its chief executive sat through a hostile congressional hearing, during which he did little to sway some of the loudest critics. 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. Read the original article on Business Insider, TikTok's marketplace being rolled out in the US. We want to hear from you. WebSEC Filings. Its operating loss was $2.1 billion after posting a profit the year before. A Division of NBCUniversal. Statista. 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Yellen at the National Association for Business Economics 39th Annual Economic Policy Conference, Report on Foreign Portfolio Holdings of U.S. Securities at End-June 2022, Treasury Department Announces Approval of Federal Funds to Connect Hawaii Homes and Families to Affordable, High-Speed Internet as Part of President Bidens Investing in America Agenda, Treasury Sanctions Fugitive, Others Linked to CJNG Timeshare Fraud Network, Remarks by Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg at Media Engagement in Astana, Kazakhstan, Remarks by Secretary of the Treasury Janet L. Yellen at the Sacramento Metropolitan Chamber of Commerces 51st Annual Capitol-to-Capitol Program As, Remarks by Under Secretary Brian Nelson at American Chamber of Commerce Austria Roundtable, Form 941, employer's quarterly federal tax return, READOUT: G7 Enforcement Coordination Mechanism Deputies Meeting, READOUT: Treasury Department Convenes Roundtable to Discuss the American Rescue Plans Historic Investments in Rental Assistance for AANHPI Communities, READOUT: Treasury Department Convenes Roundtable Discussion on Inflation Reduction Act Incentives for Underserved Communities, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. 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. ByteDance It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. ByteDance How much funding has this organization raised over time? 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. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. "Brems also told Insider via Instagram message that "there's numerous fake accounts of me promoting nonsense 'weight loss' coffee.". Already a subscriber? 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. Premium access for businesses and educational institutions. You only have access to basic statistics. 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. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. We use cookies The news comes after Chinese regulators launched a cybersecurity review into Didi, which listed on the New York Stock Exchange last month. 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. ByteDance | Financial Times 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. 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 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. 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. 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. 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. Got a confidential news tip? ", "I used to do oil deals all the time. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. In January, ByteDance launched a new payments service within Douyin to experiment with financial technology. or TikTok has rapidly increased its revenue generation in the past few years. Americas $800bn climate splurge is feeding a new lobbying 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.". TikTok Owner Said It Obtained User Data Of Journalists TikTok videos produced in China are trying to rip people off with ByteDance ByteDance It will have nothing to do with any outside land, any outside country, it will have nothing to do with China," Trump said. ByteDance, TikToks Chinese parent, reports a record profit 2022 The Business of Fashion. In April, the company said it had no immediate plans to go public.