Student Exchange. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. organisation By. "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.. The net loss for the financial year ending December 2020 was $45 billion, and it was a 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. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. 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 Accessed May 01, 2023. https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/, Yahoo. (if applicable) for The Wall Street Journal. All Rights Reserved. In, Yahoo. 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. For cost savings, you can change your plan at any time online in the Settings & Account section. 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. By signing up you agree to our privacy policy. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. ", "I used to do oil deals all the time. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. The US is banning the app from federal government devices and numerous states have taken similar measures. 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. 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. 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. ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App offers FT membership to read for free. You will be charged ByteDances profit last year came despite mounting losses at fast-growing TikTok, according to the Financial Times. 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. They Refused to Fight for Russia. 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. You only have access to basic statistics. 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. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. 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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. And even if they are taken down, Brems said it's a difficult process. ByteDances revenue for 2020 totaled $34.3 billion, up 111% year-on-year. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. Hotels.com Coupon - 30% Off Hotel Stays + More, Mother's Day promo - 60% off select Hotel and Car hires with Hotwire, Mother's Day sale: Extra $100 Off Barcelo Promo Code, 30% off Booking.com promo code with flash sale deals, Exclusive Expedia coupon - Save 25% or more + Extra 5%, Epsteins Private Calendar Reveals Prominent Names, Including CIA Chief, Goldmans Top Lawyer, The Building Boom Is Prolonging Market Pain, We Hope Your iPhone Never Gets Stolen. 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. 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. You will be notified in advance of any changes in rate or terms. 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. 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. The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. Currently, you are using a shared account. 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. Financial Matters. The news comes after Chinese regulators launched a cybersecurity review into Didi, which listed on the New York Stock Exchange last month. 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%. WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. 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. cookies The rapid growth Beijing has been escalating its regulatory scrutiny of U.S.-listed Chinese companies of late. journalists in 50+ countries covering politics, business, innovation, trends and more. Its operating loss was $2.1 billion after posting a profit the year before. 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. !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. 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. 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. Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. From there, TikTok snowballed into the most popular app in 2019 and 2020. ", 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. 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 "We don't comment on rumors or speculation," a ByteDance spokesperson told CNBC. ByteDance's majority ownership appears to refute a claim made by President Donald Trump that the deal "will have nothing to do with China. In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. TikTok has attracted a "cottage industry" of scammers, the FT says, citing dodgy items being hawked. Get full access to all features within our Business Solutions. Brems told the FT that the clips are used without her consent. Nike Has a Plan to Take Digital Goods Mainstream. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. 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. 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. In 2019, he became Xiaomi's foreign business president. 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. Last year the tech group as a whole made a "Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. Sign In. How many investments has this organization made over time? Which types of acquisition does this organization make most frequently. Note: Individual country demographics are available in the TikTok Report. Read on below to find out more. ByteDance has raised a total of $9.5B in funding over 12 rounds. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. "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. In 2019, India and Pakistan banned it for morality issues, with both bans being rescinded after a while. 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. A majority of TikTok users are aged under 30, with the largest age bracket aged between 20 and 20 years old. [Online]. 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. 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. statistic alerts) please log in with your personal account. Thank the Chinese consumer. 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 WhatsApp acquired by Facebook). ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. India upheld the ban in January 2021, which has led to several other TikTok-clones taking over market share in the country. 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"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. In March 2021, Chew joined ByteDance as its chief financial officer. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring possible collaboration in Privacy-preserving Technologies, as well as a tour of NTU SCRIPTS Centre. 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. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. For more on ByteDance's shelved IPO plans, you can read the full story from the Journal here. rally? ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. Statista. In 2021, it generated $4.6 billion, a 142% increase year-on-year. Mo told the FT that he was joking; he couldn't be reached by Insider. In the previous financial year, ByteDance had an operating profit of $684M. Meanwhile, it told the FT that it takes down content that violates its guidelines. They show that the companys revenues grew Programmes. Learn more about how Statista can support your business. Please do not hesitate to contact me. ByteDance visited SCRIPTS; Search. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. 20 January 2022. 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. It was downloaded 693 million times in 2019 and 850 million times in 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. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. personalising content and ads, providing social media features and to Agenda-setting intelligence, analysis and advice for the global fashion community. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. 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. Which funding types raised the most money? Related Topics Partnerships Industry Research Technology The hard part may be turning the designs into real clothes. All rights reserved. TikTok has repeatedly denied this.. 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. analyse how our Sites are used. The Beijing-based company reportedly decided to postpone the plans indefinitely after regulators told it to focus on data security risks. 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 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. 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. 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. Market Just Dont Call Them NFTs. This added 80 million users, mostly in the US, which TikTok then imported to its own platform. Source: TikTok Report. 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. Note: Values are monthly active users in Q2 of the respective year. 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 October 7, 2022. 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. For more information read our Terms & Conditions. Filter by: Select year: Date Filing Type Filing Description Download / View. 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. 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. TikTok has rapidly increased its revenue generation in the past few years. How much funding has this organization raised over time? We want to hear from you. Are you interested in testing our business solutions? It is expected to surpass 1 billion monthly active users by the end of 2021. 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