Just Dont Call Them NFTs. Before ByteDance's Chinese statement on Monday, CNBC reported the company would retain an 80% stake in TikTok Global. Meanwhile, it told the FT that it takes down content that violates its guidelines. journalists in 50+ countries covering politics, business, innovation, trends and more. If you are an admin, please authenticate by logging in again. 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. 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. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. Read on below to find out more. The Beijing-based tech giant had been weighing an initial public offering of all or some of its businesses in the U.S. or Hong Kong, the Wall Street Journal reported on Monday, citing people familiar with the matter. Programmes. In, Yahoo. ByteDance TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. The New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and ByteDance says it Statement by Secretary Steven T. Mnuchin on the Presidents Decision Regarding the Acquisition by ByteDance Ltd. of the U.S. Business of musical.ly August 14, 2020 WASHINGTON As chair of the Committee on Foreign Investment in the United States (CFIUS), U.S. Treasury Secretary Steven T. Mnuchin today issued the following The news comes after Chinese regulators launched a cybersecurity review into homegrown ride-hailing service Didi, which listed on the New York Stock Exchange last month. ByteDance founder Zhang Yiming decided it would be best to postpone the planned IPO indefinitely in late March after meetings with cyberspace and securities regulators who told the company to address data security and other issues, according to the Journal. dollars)." WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. Dont Be So Sure, Opinion: Randi Weingartens Incredible Covid Memory Loss, WSJ Opinion: Feeling Lucky, Democrats Back Non-Compos Presidential Politics, What the FDIC Does to Protect Deposits When Banks Fail, The Hidden iPhone Setting Thieves Use to Lock People Out of Apple Accounts, Dylan Mulvaney Speaks Out Following Bud Light Ad Controversy. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. ". ByteDance 2021 financials: $61.7bn revenues and a $7bn loss The leadership team of Shou and Vanessa sets the stage for sustained growth, ByteDance CEO Yiming Zhang said in a statement. You may change your billing preferences at any time in the Customer Center or call To use individual functions (e.g., mark statistics as favourites, set 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. Even with this stellar growth, TikTok has faced several controversies. Portfolio Management Commentary 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? You will be notified in advance of any changes in rate or terms. While many Chinese apps have failed to succeed outside of China, most notably Tencents WeChat, TikTok managed to push itself into the overseas market through the acquisition of Musical.ly in November 2017 for $1 billion. TikTok, known as Douyin in its home market, was launched in China in September 2016. The Chinese social media behemoth was valued at around $220 billion in a recent private-market investment by Abu Dhabi AI firm G42, down from the $300 billion that TikToks owner set during a September share buyback program. 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. 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. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information In 2019, India and Pakistan banned it for morality issues, with both bans being rescinded after a while. Reuters. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. By signing up you agree to our privacy policy. The FT's report mentioned a seller named Mo Huabin whose company posts videos of products that appear to violate ByteDance's guidelines. How much funding has this organization raised over time? WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. ByteDance 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 About Snap. The company said that it plans to carry out a small round of pre-IPO (initial public offering) financing that will give ByteDance an 80% stake in TikTok Global. Statement on ByteDance and TikTok by Treasury Spokesperson Data is a real-time snapshot *Data is delayed at least 15 minutes. The Financial Times reported in August that ByteDance was seeking to go public in Hong Kong by early next year. Market In March 2021, Chew joined ByteDance as its chief financial officer. TikTok has high amounts of usage in all regions and has over 300 million users in Asia-Pacific region, which does not include China and India. ByteDance Get the full list ByteDance We are delighted that you'd like to resume your subscription. ", 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. TikTok ban is the least palatable of options | Reuters Its new digital tool makes it easier for clients to customise products in any combination of colours and fabrics they like, as long as they dont try to mix a pink jacket with yellow pants. Dollars). Chart. ByteDance posts record profit despite TikTok losses Booming 2022 helps it overtake Chinas long-reigning tech giants Tencent and Alibaba for first time March 29 ByteDance Show publisher information Their latest funding was raised on Mar 15, 2023 from a Secondary Market round. Hotels.com Coupon - 30% Off Hotel Stays + More, Mother's Day promo - 60% off select Hotel and Car hires with Hotwire, Mother's Day sale: Extra $100 Off Barcelo Promo Code, 30% off Booking.com promo code with flash sale deals, Exclusive Expedia coupon - Save 25% or more + Extra 5%, Epsteins Private Calendar Reveals Prominent Names, Including CIA Chief, Goldmans Top Lawyer, The Building Boom Is Prolonging Market Pain, We Hope Your iPhone Never Gets Stolen. I just got a royalty check, right?That's the situationjust a passive shareholder who collects money and/or writes a check if the company is not doing well. Filter by: Select year: Date Filing Type Filing Description Download / View. Gain a global perspective on the US and go beyond with curated news and analysis from 600 personalising content and ads, providing social media features and to rally? ByteDance - Funding, Financials, Valuation & Investors 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. Mo told the FT that he was joking; he couldn't be reached by Insider. WebSEC Filings. Get full access to all features within our Business Solutions. As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Are you interested in testing our business solutions? BlackRock 2022 The Business of Fashion. ByteDance had prior experience on running wildly popular apps, as the operator of AI-powered news aggregation platform Toutiao. All rights reserved. [Online]. 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. Statista. ByteDance's majority ownership appears to refute a claim made by President Donald Trump that the deal "will have nothing to do with China. ByteDances revenue for 2020 totaled $34.3 billion, up 111% year-on-year. China's ByteDance, owner of TikTok, saw revenue surge 111% in This extensionwill provide the partiesand the Committeeadditionaltimeto resolve this case in a mannerthat complies with the Order. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring Even though it only launched in 2017, TikTok was the seventh-most downloaded app of the 2010s, and looks to be a true competitor against Facebooks grip on social networking in the West. 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. 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. ByteDance 2 killed, 4 wounded in Mississippi shooting; man arrested, 150 years later, Dixon bridge tragedy among nation's worst, Presidential candidate Vivek Ramaswamy says he wants to 'shut down the FBI' and replace it with something that sounds a lot like the FBI, Sanders: Biden could win in a landslide, Scam alert: Hackers now targeting you through your smart TV, BBB warns, Don't fall for these wrong number texting scams, Cold calling to be banned under Government plan to target scammers, Cottage garden ideas: Inspiring pictures and ways to transform your backyard whatever its size. The figures were disclosed to a small group of By. 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. ByteDance In March 2021, Chew joined ByteDance as its chief financial officer. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. At just 10 years old, ByteDance, the most valuable startup in the world, has shattered records for growth. It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. Consistent with the Order, the Committee on Foreign Investment in the United States (CFIUS) has granted ByteDance a 15-day extension of the original November 12, 2020 deadline. Currently, you are using a shared account. 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. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. TikTok also faced having to sell its operations in the US to a holding company, which would have been controlled by Walmart and Oracle. TikTok Owner ByteDances Annual Revenue Jumps to $34.3 Billion 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. TikTok has rapidly increased its revenue generation in the past few years. Amcare Women's and Children's Hospital acquired by ByteDance, Wuhan Hezhong Yibao Technology acquired by ByteDance, Total amount raised across all funding rounds, Total number of lead investment firms and individual investors, Announced Date: Date that the Funding Round was publicly announced, Transaction Name: Auto-generated name of transaction (e.g. The Chinese technology firm added that the tax will need to be determined according to how TikTok Global develops, noting that the $5 billion figure has "nothing to do" with deal with Oracle and Walmart., Oracle will also get to inspect the source code for TikTok, but ByteDance said it will not be transferring algorithms or technology to the U.S. firm., Washington claims that TikTok represents a national security threat because it collects U.S. user data which can be accessed by Beijing. We use TikTok Owner ByteDance Reveals that Its Annual Revenue 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. 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. 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. analyse how our Sites are used. 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. For cost savings, you can change your plan at any time online in the Settings & Account section. A Division of NBCUniversal. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. Financials. "Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. $ + tax As part of the deal, Oracle, Walmart and ByteDance agreed to list TikTok Global on an American stock exchange within 12 months., TikTok faced being shut down on Sunday but that decision has now been delayed for a week, according to the Department of Commerce.. 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. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. ByteDance Source: App Ape. Which funding types raised the most money? 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. !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. Oracle and Walmart will have minority stakes in TikTok Global. Zhang Yiming, the founder and CEO of ByteDance, incorporated a similar AI-platform into TikTok, which is able to identify a users interests and feed them more relevant videos. Data is a real-time snapshot *Data is delayed at least 15 minutes. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Student Life Show me more results. What is ByteDances valuation? Simply log into Settings & Account and select "Cancel" on the right-hand side. The Law Did Not Treat Them Kindly. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. Business Solutions including all features. Thank the Chinese consumer. The ideal entry-level account for individual users. Accessed May 01, 2023. https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/, Yahoo. The FT contended that types of scam accounts have survived on TikTok due to the platform's "hands off" approach to regulating content and its algorithms that are designed to allow "any video to gain traction.". TikTok owner ByteDance reportedly made a profit of $3 billion on We want to hear from you. Customer Service. TikTok owner ByteDance saw its total revenue grow by 70 percent year-on-year to around $58 billion in 2021, according to two people familiar with the matter, slower growth than a year earlier as China tightens its regulation of big tech companies. I didn't have any access to the company's information. Douyin, though, remains ByteDances biggest cash cow. 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. The Presidents August 6 Order is separate from his August 14 Order and addresses risks to U.S. national security by prohibiting specified transactions with ByteDance or its subsidiaries pursuant to the Presidents authority under the International Emergency Economic Powers Act. ByteDance's latest TikTok videos produced in China are trying to rip people off with WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. 2023 CNBC LLC. You can opt out anytime. TikTok has amassed more than 150 million monthly users in America, spurring concerns about Chinas access to the data it gathers. The US is banning the app from federal government devices and numerous states have taken similar measures. But in a Chinese-language statement on Monday, ByteDance, the Beijing-based parent company of TikTok, insisted it was not losing control of the social media app., The company said it plans to carry out a small round of pre-IPO (initial public offering) financing that will give ByteDance an 80% stake in TikTok Global.