Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. A Division of NBCUniversal. Statement on ByteDance and TikTok by Treasury Spokesperson Monica Crowley November 13, 2020 The Presidents August 14 Order requires ByteDance and ". 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. I didn't have any access to the company's information. 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. And even if they are taken down, Brems said it's a difficult process. 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. October 7, 2022. Check if your ByteDance's latest Zhangyue Technology is a China-based developer of the iReader e-book reader. We have collected data and statistics on TikTok. TikTok, known as Douyin in its home market, was launched in China in September 2016. 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. It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. For a full comparison of Standard and Premium Digital, click here. !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. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information 2022 The Business of Fashion. Their latest funding was raised on Mar 15, 2023 from a Secondary Market round. TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. Standard Digital includes access to a wealth of global news, analysis and expert opinion. It didn't immediately respond to Insider's request for comment. 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. Read on below to find out more. Are you interested in testing our business solutions? 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. Sheldon Cooper | LightRocket | Getty Images, escalating its regulatory scrutiny of U.S.-listed Chinese companies. To use individual functions (e.g., mark statistics as favourites, set cookies TikTok, meanwhile, told the FT that it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. 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. 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. Then you can access your favorite statistics via the star in the header. You will be charged 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. 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. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. Before ByteDance's Chinese statement on Monday, CNBC reported the company would retain an 80% stake in TikTok Global. The hard part may be turning the designs into real clothes. Sign up for free newsletters and get more CNBC delivered to your inbox. Oracle and Walmart will have minority stakes in TikTok Global. WebFund Summaryas of December 31, 2022 4 2022 B LAC KR OA N U R EP RT S H D S BlackRockAdvantage Large Cap Core Portfolio Investment Objective BlackRockAdvantage Large Cap Core Portfolios (the Fund) investment objective is to seek long-term capital appreciation. Already a subscriber? [Online]. 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 ByteDance also allowed the Chinese government to take a special management stake in one of its Chinese subsidiaries in late 2019, Reuters reported in "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. Related Topics Partnerships Industry Research Technology The US is banning the app from federal government devices and numerous states have taken similar measures. Oracle would become the secure cloud provider and host American users' data in the country.. ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. Which types of acquisition does this organization make most frequently. In 2019, India and Pakistan banned it for morality issues, with both bans being rescinded after a while. "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. ByteDances profit last year came despite mounting losses at fast-growing TikTok, according to the Financial Times. Apart from its flagship short video The Financial Times reported in August that ByteDance was seeking to go public in Hong Kong by early next year. 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. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. 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 Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. In March 2021, Chew joined ByteDance as its chief financial officer. Which investors participated in the most funding rounds? Which industries has this organization had the most exits in? Student Life Show me more results. 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.. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. I just got a royalty check, right?That's the situationjust a passive shareholder who collects money and/or writes a check if the company is not doing well. ByteDance financials. 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. organisation 2023 CNBC LLC. 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. ByteDance Ltd.s profit last year soared to a record, surpassing that of China technology giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. for the first time. Trump: Oracle, Walmart must have total control of TikTok. 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. Analysis and advice on how technology is disrupting fashion and creating new opportunities. They Refused to Fight for Russia. Beijing has been escalating its regulatory scrutiny of U.S.-listed Chinese companies of late. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. or (October 7, 2022). Source: App Ape. 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. A majority of TikTok users are aged under 30, with the largest age bracket aged between 20 and 20 years old. 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 current status of the Department of Commerces implementation of the August 6 Order can be found here. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Filter by: Select year: Date Filing Type Filing Description Download / View. 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. In 2019, he became Xiaomi's foreign business president. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. You may change your billing preferences at any time in the Customer Center or call ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. "Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. Got a confidential news tip? Thank the Chinese consumer. India upheld the ban in January 2021, which has led to several other TikTok-clones taking over market share in the country. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. The leadership team of Shou and Vanessa sets the stage for sustained growth, ByteDance CEO Yiming Zhang said in a statement. Simply log into Settings & Account and select "Cancel" on the right-hand side. From there, TikTok snowballed into the most popular app in 2019 and 2020. 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. 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. Premium access for businesses and educational institutions. 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. personalising content and ads, providing social media features and to Show publisher information 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Images or B-rolls on this page may be used only for editorial purposes, and 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. 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. 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. 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. In 2021, China's government bought a 1% stake in the main domestic unit of TikTok owner ByteDance. U.S. Secretary of State Mike Pompeo said the entity will be "controlled by Americans" in an interview with Fox News' "Sunday Morning Futures." ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. TikTok has amassed more than 150 million monthly users in America, spurring concerns about Chinas access to the data it gathers. Note: Individual country demographics are available in the TikTok Report. Financial Matters. They show that the companys revenues grew Yahoo. 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. Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. Consistent with the Order, the Committee on Foreign Investment in the United States (CFIUS) has granted ByteDance a 15-day extension of the original November 12, 2020 deadline. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. "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.. 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. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring In, Yahoo. Mo told the FT that he was joking; he couldn't be reached by Insider. All rights reserved. Data is a real-time snapshot *Data is delayed at least 15 minutes. Note: Values are monthly active users in Q2 of the respective year. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. For more on ByteDance's shelved IPO plans, you can read the full story from the Journal 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. 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. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. 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. 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. Which funding types raised the most money? 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%. Agenda-setting intelligence, analysis and advice for the global fashion community. 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. "Brems also told Insider via Instagram message that "there's numerous fake accounts of me promoting nonsense 'weight loss' coffee.". All Rights Reserved. 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. ByteDance has raised a total of $9.5B in funding over 12 rounds. ", 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. 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. 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 How much funding has this organization raised over time? Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for $1 for 4 weeks, You will be billed $69 per month after the trial ends, Long-lived rivals: actuaries say Biden and Trump are not too old for office, Singapore deepens US defence ties despite Chinese financial inflows, The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency, Inflations legacy hits European households even as price growth ebbs, EU law to restore nature stokes debate that jobs will go to China, Charlie Munger: US banks are full of bad commercial property loans, US regulator asks banks including JPMorgan and PNC to bid for First Republic, JPMorgan, Citizens and PNC submit bids for First Republic, Airlines dispute adds headwinds to US-China relationship, Mercedes-Benz chief says cutting China ties would be unthinkable, Investors bet on shrinking pool of tech stocks as rally narrows, Building society chief warns deposit-scheme reform will hit lending, US seizure of oil vessel triggered Iran tanker capture, Hedge funds lose $18bn betting against tech stock rally, A gruesome episode tells a painful story about corporate Japan, The costs of entrenched high inflation cannot be ignored, Inside the elite British college for the worlds best nannies, In Kolkata, Indias new bankruptcy law is put to the test, Travels through Cretes ancient history without the crowds. If you are an admin, please authenticate by logging in again. ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App "We don't comment on rumors or speculation," a ByteDance spokesperson told CNBC. 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. ", "I used to do oil deals all the time. In April, the company said it had no immediate plans to go public. All Rights Reserved. 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. 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. In 2019, he became Xiaomi's foreign business president. Even with this stellar growth, TikTok has faced several controversies. 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. The FT's report mentioned a seller named Mo Huabin whose company posts videos of products that appear to violate ByteDance's guidelines. 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. 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. The New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. You can still enjoy your subscription until the end of your current billing period. Chart. The figures were disclosed to a small group of "Key Financial Figures of Bytedance in 1st Quarter of 2022 (in Billion U.S. 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. The Beijing-based company reportedly decided to postpone the plans indefinitely after regulators told it to focus on data security risks. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. For more information read our Terms & Conditions. Dollars). You can opt out anytime. The 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. The net loss for the financial year ending December 2020 was $45 billion, and it was a Profit from the additional features of your individual account. For cost savings, you can change your plan at any time online in the Settings & Account section. 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 want to hear from you. ", 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. We use Programmes. ByteDances Profit Surges 79%, Exceeding Alibaba and Tencent 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. India banned the app again in June 2020, along with a spate of other Chinese-based apps, as tensions between China and India heightened.
