Prior to last year, ByteDance has acquired a total ad revenue of $28 billion in its Chinese businesses.
This year, ByteDance is planning to grow its sales to $39 billion, thus tripling the growth of its e-commerce space.
The firm also expects to raise its e-commerce gross merchandise value (GMV) from $26 billion to $92 billion.
According to the memo, ByteDance is increasing its rivalry with Alibaba, through total advertising revenues coming from brands and entrepreneurs.
Moreover, e-commerce is expected to surpass gaming as the leading source of ad revenue for the company this year.
This IPO listing with a valuation of roughly $400 billion is set to take place in Hong Kong.
Based on the Bloomberg report, the figures shown in the memo are still tentative and are subject to change.
SGD 4050 — SGD 4300 monthly
Singapore , Singapore
USD 17000 — USD 25000 monthly
Have a company of your own? Create a company profile today and easily find customers, raise funds, or hire talent.
BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.
Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities: