Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. Its operating loss was $2.1 billion after posting a profit the year before. Get full access to all features within our Business Solutions. 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. China's ByteDance, owner of TikTok, saw revenue surge 111% in ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. He added ByteDance would just be a "passive shareholder. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring 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. Accessed May 01, 2023. https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/, Yahoo. Simply log into Settings & Account and select "Cancel" on the right-hand side. Statement on ByteDance and TikTok by Treasury Spokesperson 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. 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. WebChief Financial Officer: Charles Li: Chief Information Officer: Sally Wang: Director of Strategy & Investment: Youre viewing 5 of 24 executive team members. TikTok videos produced in China are trying to rip people off with statistic alerts) please log in with your personal account. The news comes after Chinese regulators launched a cybersecurity review into Didi, which listed on the New York Stock Exchange last month. The rapid growth You may change your billing preferences at any time in the Customer Center or call WebByteDance was founded in 2012 by a team led by Yiming Zhang and Rubo Liang, who saw opportunities in the then-nascent mobile internet market, and aspired to build ByteDance 2021 financials: $61.7bn revenues and a $7bn loss ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. ByteDance Company Profile: Funding & Investors | PitchBook We have collected data and statistics on TikTok. You may change or cancel your subscription or trial at any time online. 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. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. 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. "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. 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 hired Shou Zi Chew, a former executive at Chinese smartphone maker Xiaomi, as its CFO in March, fueling speculation about a potential IPO. ". ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App 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). Show publisher information In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. 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. Americas $800bn climate splurge is feeding a new lobbying 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. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Oracle would become the secure cloud provider and host American users' data in the country.. Market 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. TikTok Owner ByteDance Statement on ByteDance and TikTok by Treasury Spokesperson Monica Crowley, Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Media Advisory: Sanctions-Related Travel by Senior Treasury Department Officials, Treasury, IRS Release Plan to Deliver Improved Service for Americans, Reduce Deficit by Hundreds of Billions, Remarks by Secretary of the Treasury Janet L. 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ByteDance financial 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 Revenue and Usage Statistics (2023) - Business By signing up you agree to our privacy policy. "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). Missed the A.I. 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 Related Topics Partnerships Industry Research Technology Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. ByteDance - Inspire Creativity, Enrich Life journalists in 50+ countries covering politics, business, innovation, trends and more. The Beijing-based company reportedly decided to postpone the plans indefinitely after regulators told it to focus on data security risks. 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. "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. 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. Statista. Are you interested in testing our business solutions? Financial Times 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. The net loss for the financial year ending December 2020 was $45 billion, and it was a The FT's report mentioned a seller named Mo Huabin whose company posts videos of products that appear to violate ByteDance's guidelines. A Division of NBCUniversal. A Division of NBCUniversal. The US is banning the app from federal government devices and numerous states have taken similar measures. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. Got a confidential news tip? You can opt out anytime. 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