BEAMSTART Logo

TikTok now has over 1.9 billion users; revenues double in past year

TikTok's parent company posted an operating loss of $2.1 billion.


TikTok now has over 1.9 billion users; revenues double in past year | BEAMSTART News

- From our Sponsors -

TikTok continues to grow at an unprecedented pace, both in China and globally.

The company's revenues grew by more than double in the past year, beating analysts expectations.

- Featured Sponsor -

Key Highlights

  • TikTok's parent company, ByteDance, drew in $34.3 billion in revenues over the past year, up 111% year-on-year.
  • Despite the growth in revenues, the company posted a $2.1 billion operating loss.
  • ByteDance was profitable the year before, posting an operating profit of $684 million.

Why It Matters

  • A large part of TikTok's revenues come from advertising today, further encroaching on Facebook's advertising market share.
  • Later this year, ByteDance is expected to undergo a key management change, most notably with its founder stepping down.
  • ByteDance is still private today, with valuations estimated to be north of $100 billion, making it the world's most valuable technology startup company.

- From our Sponsors -

BEAMSTART is a Global Community and News Portal for Entrepreneurship. We cover the latest news and bring together a global network of CEOs/founders, Investors, Business Leaders, and Professionals.

 

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).