The net loss for the financial year ending December 2020 was $45 billion, and it was a Americas $800bn climate splurge is feeding a new lobbying 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. The FT said in its report that it had flagged 25 products in TikTok's UK marketplace; TikTok said those products have since been removed. Financial India banned the app again in June 2020, along with a spate of other Chinese-based apps, as tensions between China and India heightened. Zhangyue Technology is a China-based developer of the iReader e-book reader. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. You may change or cancel your subscription or trial at any time online. ByteDance 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. That double-digit growth topped most of the global internet leaders including Meta Platforms Inc. and Amazon Inc., underscoring the resilience of ByteDances business at a time Washington is threatening to join India in banning TikTok, which a growing number of government agencies across the world are wiping from official phones. TikTok owner ByteDance reportedly made a profit of $3 billion on Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. TikTok videos produced in China are trying to rip people off with Earnings before interest, tax, depreciation and amortisation, or Ebitda, jumped 79 percent to about $25 billion in 2022, the report said, citing two investors briefed on the numbers. We use Butbecause 40% of ByteDance is owned by U.S. venture capital firms, the Trump administration can technically claim TikTok Global is now majority owned by U.S. money. (if applicable) for The Wall Street Journal. TikTok was the most downloaded app in 2020 and 2021 and peaked at 318 million downloads in Q1 2020, a record for quarterly downloads outside of China. As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. Which industries has this organization had the most exits in? 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. Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) [Graph]. Show publisher information ByteDance The The hard part may be turning the designs into real clothes. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. On Thursday, ByteDance shared its financial report for the year 2019 to 2020 with the employees, saying that the companys revenue grew by 111% in one year. As per the companys memo, seen by Wall Street Journal, the gross profit for the year was $19 billion, 93% growth compared to the previous years results. ByteDance and Its Growing Revenue ByteDance's valuation in March 2020 was $105,000 - $140,000M. Are you interested in testing our business solutions? WebFund Summaryas of December 31, 2022 4 2022 B LAC KR OA N U R EP RT S H D S BlackRockAdvantage Large Cap Core Portfolio Investment Objective BlackRockAdvantage Large Cap Core Portfolios (the Fund) investment objective is to seek long-term capital appreciation. WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. ByteDance was considering an IPO of all or some of its businesses in the U.S. or Hong Kong, the Wall Street Journal reported on Monday. Last year the tech group as a whole made a Thank the Chinese consumer. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. You will be charged Oracle and Walmart will have minority stakes in TikTok Global. Missed the A.I. In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. Standard Digital includes access to a wealth of global news, analysis and expert opinion. TikTok ban is the least palatable of options | Reuters 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. The Beijing-based company reportedly decided to postpone the plans indefinitely after regulators told it to focus on data security risks. Get full access to all features within our Business Solutions. Before ByteDance's Chinese statement on Monday, CNBC reported the company would retain an 80% stake in TikTok Global. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. Trump: Oracle, Walmart must have total control of TikTok. ByteDance, the Chinese owner of TikTok, reportedly scrubbed plans for an offshore listing after government officials asked the company to focus on data security risks. ", Yahoo, Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/ (last visited May 01, 2023), Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. dollars) [Graph], Yahoo, October 7, 2022. Customer Service. university Note: Individual country demographics are available in the TikTok Report. TikTok also faced having to sell its operations in the US to a holding company, which would have been controlled by Walmart and Oracle. and other data for a number of reasons, such as keeping FT Sites reliable and secure, TikTok, meanwhile, told the FT that it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. ByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. ByteDance's valuation in March 2020 was $105,000 - $140,000M. ByteDance's latest post-money valuation is from March 2023. Sign up for a free trial to see ByteDance's valuations in March 2023, November 2018 and more. ByteDance's 2020 revenue was $25B. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. Data is a real-time snapshot *Data is delayed at least 15 minutes. For more on ByteDance's shelved IPO plans, you can read the full story from the Journal here. 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 News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Shou Zi Chew - Wikipedia rally? 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. Which industries has this organization most actively invested in? 20 January 2022. However, TikTok is not being acquired and will have the majority stake. WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. You can opt out anytime. Shou Zi Chew - Wikipedia ByteDance had prior experience on running wildly popular apps, as the operator of AI-powered news aggregation platform Toutiao. They Refused to Fight for Russia. You can still enjoy your subscription until the end of your current billing period. Sign up for free newsletters and get more CNBC delivered to your inbox. Learn more about how Statista can support your business. No access to the company, no decision-making authority, to ability to peer into what they're doing; just a passive shareholder," Pompeo said, according to an official transcript., Trump has also previously said the U.S. Treasury should get a cut of any deal involving TikTok. Financial Business Solutions including all features. We have collected data and statistics on TikTok. ByteDance Images or B-rolls on this page may be used only for editorial purposes, and Statista. If you are an admin, please authenticate by logging in again. All Rights Reserved. Already a subscriber? ByteDance | Financial Times Chart. 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, the Financial Times reported. 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. Please do not hesitate to contact me. "Key Financial Figures of Bytedance in 1st Quarter of 2022 (in Billion U.S. ", "I used to do oil deals all the time. It will have nothing to do with any outside land, any outside country, it will have nothing to do with China," Trump said. 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 financials. For cost savings, you can change your plan at any time online in the Settings & Account section. (October 7, 2022). statistic alerts) please log in with your personal account. The privately held company on Thursday shared highlights of its 2020 financial performance with its employees. ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App We want to hear from you. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. Financial Times You only have access to basic statistics. To use individual functions (e.g., mark statistics as favourites, set ByteDance ByteDance has raised a total of $9.5B in funding over 12 rounds. "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. In January, Mo posted a video to Douyin, ByteDance's short-form video app in China, where he said, "I do TikTok to rip people off," the FT reported, adding that Mo's main account was removed after the publication flagged it and requested a comment from ByteDance. Migrants find tips on Chinese version of TikTok for long trek to Which investors participated in the most funding rounds? The US is banning the app from federal government devices and numerous states have taken similar measures. 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. "Brems also told Insider via Instagram message that "there's numerous fake accounts of me promoting nonsense 'weight loss' coffee.". "We don't comment on rumors or speculation," a ByteDance spokesperson told CNBC. Simply log into Settings & Account and select "Cancel" on the right-hand side. organisation Nov 9, 2022 In the first quarter of 2022, TikTok's parent ByteDance reported 18.3 billion U.S. dollars in revenues, increased by nearly 54 percent compared to the Then you can access your favorite statistics via the star in the header. "So it'll close down on Sept. 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so that the Treasury of the United States gets a lot of money," Trump said at that time.. Agenda-setting intelligence, analysis and advice for the global fashion community. 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. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Their latest funding was raised on Mar 15, 2023 from a Secondary Market round. TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. Check if your In March 2021, Chew joined ByteDance as its chief financial officer. personalising content and ads, providing social media features and to 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. Even with this stellar growth, TikTok has faced several controversies. Related Topics Partnerships Industry Research Technology 2022 The Business of Fashion. It was downloaded 693 million times in 2019 and 850 million times in 2020. ByteDance quarterly financial figures 2022 | Statista Americas $800bn climate splurge is feeding a new lobbying The ideal entry-level account for individual users. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower, GUANGZHOU, China Beijing-based ByteDance said it would own a majority stake in the new TikTok Global in the U.S., appearing to contradictPresident Donald Trump's claims the deal has "nothing to do with China. All rights reserved. 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Get the full list analyse how our Sites are used. TikTok has amassed more than 150 million monthly users in America, spurring concerns about Chinas access to the data it gathers. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Read the original article on Business Insider, TikTok's marketplace being rolled out in the US. Read on below to find out more. Meanwhile, it told the FT that it takes down content that violates its guidelines. 2023 CNBC LLC. ByteDance These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. Got a confidential news tip? TikTok has attracted a "cottage industry" of scammers, the FT says, citing dodgy items being hawked. Use Ask Statista Research Service, Market value of the largest internet companies worldwide 2023, Highest valued unicorn companies worldwide 2022, Most-followed idols on Douyin in China 2022, Ranking of the 22 richest people in China as of 2022. India upheld the ban in January 2021, which has led to several other TikTok-clones taking over market share in the country. Apart from its flagship short video The Presidents August 14 Order requires ByteDance and TikTok Inc. to undertake specific divestments and other measures to address the national security risk arising from ByteDances acquisition of Musical.ly. The privately held company on Thursday shared highlights of its 2020 financial performance with its employees. 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. 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. TikTok Owner ByteDances Revenue Growth Slowed Last Year ", 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. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. At just 10 years old, ByteDance, the most valuable startup in the world, has shattered records for growth. Statement on ByteDance and TikTok by Treasury Spokesperson 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%. "It's like whack a mole there's hundreds of accounts," selling scam items, Brems told the FT. "Most people will not fall for it, but if an account is seen by enough people, eventually some people will buy. 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. SINGAPOREByteDance Ltd., the owner of popular short-video app TikTok, told employees that its revenue last year more than doubled to $34.3 billion, underscoring why the Chinese technology giant is one of the worlds hottest startups. ". In, Yahoo. Source: App Ape. !function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async"); TikTok reached one billion users in the third quarter of 2021 and is expected to reach 1.8 billion by the end of 2022. Dollars). Douyin, though, remains ByteDances biggest cash cow. Profit from the additional features of your individual account. In 2019, he became Xiaomi's foreign business president. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. The figures were disclosed to a small group of Global Business and Financial News, Stock Quotes, and Market Data and Analysis. For more information read our Terms & Conditions. ByteDance's latest 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. 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However, President Trumps executive order has been canned by the Biden Administration. Premium access for businesses and educational institutions. They're pedaling products like fake weight loss coffee and acne medicine, the FT found. The current status of the Department of Commerces implementation of the August 6 Order can be found here. Yahoo. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring ByteDance also allowed the Chinese government to take a special management stake in one of its Chinese subsidiaries in late 2019, Reuters reported in The Law Did Not Treat Them Kindly. In 2019, he became Xiaomi's foreign business president. A Division of NBCUniversal. But Just in Case, JPMorgan, PNC Submit Bids to Buy First Republic in Government-Led Sale, Priced Out of Florida, More Retirees Are Trying This Sunbelt State on For Size, Opinion: The Blue State Exodus Accelerates, Opinion: Justice Samuel Alito: This Made Us Targets of Assassination, Opinion: Biden vs. Trump in 2024? The Financial Times reported in August that ByteDance was seeking to go public in Hong Kong by early next year. 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 Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. About Snap. Migrants find tips on Chinese version of TikTok for long trek to TikTok owner ByteDance made a net profit of $3 billion last year, according to a report from Bloomberg on Wednesday that cited people familiar with the matter. China's ByteDance, owner of TikTok, saw revenue surge 111% in TikTok has rapidly increased its revenue generation in the past few years. ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. Its chief executive sat through a hostile congressional hearing, during which he did little to sway some of the loudest critics. This added 80 million users, mostly in the US, which TikTok then imported to its own platform. It was the seventh-most downloaded app of the 2010s (Data.ai), TikTok had 315 million downloads in Q1 2020, which is a record for quarterly downloads not including Chinese third-party app stores (SensorTower), TikTik was the most positively reviewed app in the US in 2020, with 88% positive reviews (SensorTower), 14% of marketers plan to up their spend in 2021 (HubSpot), however only 3% see it as the most effective social media channel (CivicScience), TikTok was valued at $50 billion by investors in 2020 (Reuters), ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion (SCMP). Oracle would become the secure cloud provider and host American users' data in the country.. A Division of NBCUniversal. TikTok has a new CEO