ByteDance targets a 42% increase in ad revenues; expects 3x growth in e-commerce this 2021

Internet giant ByteDance prepares for a major initial public offering.

ByteDance targets a 42% increase in ad revenues; expects 3x growth in e-commerce this 2021 | BEAMSTART News

According to the report, a leaked memo shows that TikTok owner ByteDance is preparing for an initial public offering (IPO) that would increase the company's advertising sales to 42%.

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.

Zhang Yiming, co-founder and CEO of ByteDance

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.

Latest Jobs

News Editor

British Broadcasting Corporation

Hong Kong, Hong Kong (香港)

Full Time

Salary Undisclosed

Full Stack Developer - Financing Domain

OnDemand Agility


Full Time

SGD 4050 — SGD 4300 monthly

EA Personnel (Work Pass)

Trinity Employment


Full Time

SGD 2000 — SGD 3500 monthly

Senior Events Manager/ Director

Thomson Reuters

Singapore , Singapore

Full Time

USD 17000 — USD 25000 monthly

Digital Marketing Intern

Undrcut Digital Marketing



SGD 1000 — SGD 1500 monthly

Influencer Marketing Associate


Yogyakarta, Indonesia

Full Time

SGD 400 — SGD 1000 monthly

English Content Writer


Jakarta, Indonesia

Full Time

SGD 300 — SGD 600 monthly

Fund Accountant

Decacorn Capital


Full Time

SGD 2500 — SGD 5000 monthly

Investment Analyst

Accial Capital


Full Time

SGD 4000 — SGD 6000 monthly

Enterprise Solution Project Manager

Jakarta, Indonesia

Full Time

SGD 2000 — SGD 2100 monthly

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.


Download the Community App

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:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).