The FT's report mentioned a seller named Mo Huabin whose company posts videos of products that appear to violate ByteDance's guidelines. 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. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. $ + tax (if applicable) for The Wall Street Journal. 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. 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. How much funding has this organization raised over time? They show that the companys revenues grew 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. 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. 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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Financial Dont Be So Sure, Opinion: Randi Weingartens Incredible Covid Memory Loss, WSJ Opinion: Feeling Lucky, Democrats Back Non-Compos Presidential Politics, What the FDIC Does to Protect Deposits When Banks Fail, The Hidden iPhone Setting Thieves Use to Lock People Out of Apple Accounts, Dylan Mulvaney Speaks Out Following Bud Light Ad Controversy. Thank the Chinese consumer. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. Oracle and Walmart will have minority stakes in TikTok Global. TikTok, meanwhile, told the FT that it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. 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. 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. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. Even with the slowdown in downloads due to Indias ban and both Facebook and Snapchat launching clones of TikTok, the app remains one of the fastest growing in the world. 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. All Rights Reserved. It was downloaded 693 million times in 2019 and 850 million times in 2020. For cost savings, you can change your plan at any time online in the Settings & Account section. 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. 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. The net loss for the financial year ending December 2020 was $45 billion, and it was a The privately held company on Thursday shared highlights of its 2020 financial performance with its employees. 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. 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. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. 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. 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. 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. In April, the company said it had no immediate plans to go public. Portfolio Management Commentary SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring Migrants find tips on Chinese version of TikTok for long trek to Images or B-rolls on this page may be used only for editorial purposes, and ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. 2022 The Business of Fashion. Please do not hesitate to contact me. Its operating loss was $2.1 billion after posting a profit the year before. ", "I used to do oil deals all the time. "Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. 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. In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. TikTok Owner ByteDance 2020 $34.4 Billion USD Revenue Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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 quarterly financial figures 2022 | Statista 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. For a full comparison of Standard and Premium Digital, click here. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Americas $800bn climate splurge is feeding a new lobbying The first AI Fashion Week offered a convincing showcase for AI-generated fashion. 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. Got a confidential news tip? Are you interested in testing our business solutions? Related Topics Partnerships Industry Research Technology Annual Report on Bytedance's Revenue, Growth, SWOT The news comes after Chinese regulators launched a cybersecurity review into Didi, which listed on the New York Stock Exchange last month. "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. ", 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. Student Life Show me more results. TikTok Owner ByteDance Reveals that Its Annual Revenue The Law Did Not Treat Them Kindly. Nike Has a Plan to Take Digital Goods Mainstream. rally? You may change or cancel your subscription or trial at any time online. Note: Values are monthly active users in Q2 of the respective year. 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. ByteDance - Inspire Creativity, Enrich Life ByteDance financial Business Solutions including all features. TikTok has amassed more than 150 million monthly users in America, spurring concerns about Chinas access to the data it gathers. Learn more about how Statista can support your business. 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. Its chief executive sat through a hostile congressional hearing, during which he did little to sway some of the loudest critics. ByteDance And even if they are taken down, Brems said it's a difficult process. Which investors participated in the most funding rounds? In 2021, China's government bought a 1% stake in the main domestic unit of TikTok owner ByteDance. Get the full list Statement on ByteDance and TikTok by Treasury Spokesperson Monica Crowley November 13, 2020 The Presidents August 14 Order requires ByteDance and ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. 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. Before ByteDance's Chinese statement on Monday, CNBC reported the company would retain an 80% stake in TikTok Global. From there, TikTok snowballed into the most popular app in 2019 and 2020. TikTok Owner Said It Obtained User Data Of Journalists Agenda-setting intelligence, analysis and advice for the global fashion community. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. What is ByteDances valuation? TikTok Owner ByteDance Financials. Trump: Oracle, Walmart must have total control of TikTok. Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. However, President Trumps executive order has been canned by the Biden Administration. How many investments has this organization made over time? university In March 2021, Chew joined ByteDance as its chief financial officer. In the previous financial year, ByteDance had an operating profit of $684M. You only have access to basic statistics. 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. Beijing has been escalating its regulatory scrutiny of U.S.-listed Chinese companies of late. 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. Missed the A.I. 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. 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. WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. We support credit card, debit card and PayPal payments. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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 WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. About Snap. Dollars). BlackRock You can opt out anytime. China's ByteDance, owner of TikTok, saw revenue surge 111% in I didn't have any access to the company's information. Just Dont Call Them NFTs. A majority of TikTok users are aged under 30, with the largest age bracket aged between 20 and 20 years old. This extensionwill provide the partiesand the Committeeadditionaltimeto resolve this case in a mannerthat complies with the Order. Statista. This added 80 million users, mostly in the US, which TikTok then imported to its own platform. The rapid growth 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. The hard part may be turning the designs into real clothes. 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. 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 ByteDance's majority ownership appears to refute a claim made by President Donald Trump that the deal "will have nothing to do with China. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. 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. The Premium Bytedance Company Report contains critical information including: Revenue from previous years (2010 to present) Growth rate Estimated The leadership team of Shou and Vanessa sets the stage for sustained growth, ByteDance CEO Yiming Zhang said in a statement. Financial Matters. Published on 18 Apr 2022 ByteDance visited SCRIPTS. 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. 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. Their latest funding was raised on Mar 15, 2023 from a Secondary Market round. Analysis and advice on how technology is disrupting fashion and creating new opportunities. Show publisher information If you are an admin, please authenticate by logging in again. 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. WebChief Financial Officer: Charles Li: Chief Information Officer: Sally Wang: Director of Strategy & Investment: Youre viewing 5 of 24 executive team members. 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%. To use individual functions (e.g., mark statistics as favourites, set Shou Zi Chew - Wikipedia 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 We are delighted that you'd like to resume your subscription. Accessed May 01, 2023. https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/, Yahoo. Read the original article on Business Insider, TikTok's marketplace being rolled out in the US. 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. We want to hear from you. 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. As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. ByteDance Financials | Craft.co You will be charged Get this delivered to your inbox, and more info about our products and services. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. TikTok owner ByteDance reportedly made a profit of $3 billion on If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Which funding types raised the most money? TikTok videos produced in China are trying to rip people off with Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. TikTok, known as Douyin in its home market, was launched in China in September 2016. or The New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and 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. For more on ByteDance's shelved IPO plans, you can read the full story from the Journal here. Financial Times Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) [Graph]. "Key Financial Figures of Bytedance in 1st Quarter of 2022 (in Billion U.S. The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. ByteDance's latest The figures were disclosed to a small group of