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.


Kenneth Ho

18 Jun, 2021

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.

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 -

Latest Jobs

Legal Counsel, Asia

Gallons & Grapes Pte Ltd

Buona Vista, Singapore

Full Time

SGD 9000 — SGD 10500 monthly

English-Korean Freelance Transcriber in Singapore

Elite Asia

Singapore

Contract / Freelance

Salary Undisclosed

Account Manager (Hybrid)

Pinkerton

New York, NY, United States

Full Time

Salary Undisclosed

Customer Service Representative

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3000 — MYR 4000 monthly

GROCERY SHOPPER UP TO $11/H !THEY ORDER, YOU SHOP!

RecruitFirst

SIngapore, Singapore

Contract / Freelance

SGD 9 — SGD 11 monthly

English Technical/Legal Writer

Pacston Technology Group

Kuala Lumpur, Malaysia

Full Time

USD 20000 — USD 60000 monthly

Junior Accounts Cum Admin Assistant

LABEL-LINE CORPORATION PTE LTD

Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

Head of Developers

TWGT

Manila, Philippines

Full Time

USD 2000 monthly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).