bytedance financial statements
Get full access to all features within our Business Solutions. We are delighted that you'd like to resume your subscription. WhatsApp acquired by Facebook). 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. Note: Individual country demographics are available in the TikTok Report. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. Mo told the FT that he was joking; he couldn't be reached by Insider. Which investors participated in the most funding rounds? Check if your Just Dont Call Them NFTs. In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. A Division of NBCUniversal. 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.. Related Topics Partnerships Industry Research Technology TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. To use individual functions (e.g., mark statistics as favourites, set 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. The Premium Bytedance Company Report contains critical information including: Revenue from previous years (2010 to present) Growth rate Estimated By signing up you agree to our privacy policy. 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. 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 told employees in an email on Wednesday the firm would be offering stock options at US$155 per share, according to a report by Chinese media outlet The Paper. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. dollars)." ByteDance's latest TikTok, known as Douyin in its home market, was launched in China in September 2016. 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 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. Oracle and Walmart will have minority stakes in TikTok Global. 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. 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. personalising content and ads, providing social media features and to 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. "Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. In 2021, China's government bought a 1% stake in the main domestic unit of TikTok owner ByteDance. ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. A majority of TikTok users are aged under 30, with the largest age bracket aged between 20 and 20 years old. cookies As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. Programmes. TikTok also faced having to sell its operations in the US to a holding company, which would have been controlled by Walmart and Oracle. Source: TikTok Report. WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. Thank the Chinese consumer. ByteDance has raised a total of $9.5B in funding over 12 rounds. Got a confidential news tip? These accounts are benefiting from TikTok's lax content moderation policies and algorithms, FT says. We want to hear from you. In, Yahoo. 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? Student Exchange. ByteDance also allowed the Chinese government to take a special management stake in one of its Chinese subsidiaries in late 2019, Reuters reported in Source: App Ape. 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. Which funding types raised the most money? How much funding has this organization raised over time? TikTok is used by more women than men, but that gap is closing as it loses its stigma for being an app for teenagers and dancing. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. It didn't immediately respond to Insider's request for comment. If you are an admin, please authenticate by logging in again. 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. Read the original article on Business Insider, TikTok's marketplace being rolled out in the US. 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 It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Their latest funding was raised on Mar 15, 2023 from a Secondary Market round. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. The Financial Times reported in August that ByteDance was seeking to go public in Hong Kong by early next year. "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. 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. In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. Data is a real-time snapshot *Data is delayed at least 15 minutes. The privately held company on Thursday shared highlights of its 2020 financial performance with its employees. We have collected data and statistics on TikTok. TikTok has attracted a "cottage industry" of scammers, the FT says, citing dodgy items being hawked. Missed the A.I. 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. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. [Online]. Images or B-rolls on this page may be used only for editorial purposes, and Global Business and Financial News, Stock Quotes, and Market Data and Analysis. And even if they are taken down, Brems said it's a difficult process. ByteDance hired Shou Zi Chew, a former executive at Chinese smartphone maker Xiaomi, as its CFO in March, fueling speculation about a potential IPO. 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. Want to learn more about social apps? Business Solutions including all features. In January, ByteDance launched a new payments service within Douyin to experiment with financial technology. ByteDance's majority ownership appears to refute a claim made by President Donald Trump that the deal "will have nothing to do with China. For more on ByteDance's shelved IPO plans, you can read the full story from the Journal here. TikTok, meanwhile, told the FT that it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. Which types of acquisition does this organization make most frequently. Note: Values are monthly active users in Q2 of the respective year. A Division of NBCUniversal. 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. You can opt out anytime. "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.. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. Get the full list journalists in 50+ countries covering politics, business, innovation, trends and more. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Marketplace | News & Insights | Data | Events, HBO Max Revenue and Usage Statistics (2023), YouTube Revenue and Usage Statistics (2023), Disney Plus Revenue and Usage Statistics (2023), Netflix Revenue and Usage Statistics (2023), Video Streaming App Revenue and Usage Statistics (2023), Twitch Revenue and Usage Statistics (2023), September 2016 (China); September 2017 (International), Liang Rubo (ByteDance CEO), Shouzi Chew (TikTok CEO), Vanessa Pappas (TikTok COO), TikTok Revenue and Usage Statistics (2023), TikTok generated an estimated $4.6 billion revenue in 2021, a 142% increase year-on-year, TikTok had 1.2 billion monthly active users in Q4 2021 and is expected to reach 1.8 billion by the end of 2022, In China, TikTok is accessed by over 600 million users daily, TikTok has been downloaded over three billion times. 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). Financials. 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. 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. October 7, 2022. In 2019, he became Xiaomi's foreign business president. ByteDance had prior experience on running wildly popular apps, as the operator of AI-powered news aggregation platform Toutiao. The ideal entry-level account for individual users. WebByteDance Media Assets Due to the volume of requests, we can only respond to members of the press. For Daniel Alegre, the former Activision Blizzard Inc. executive who joined Yuga as chief executive officer last month, NFTs still have a bright future by serving as a room key to a world of gaming, events and e-commerce. In 2021, it generated $4.6 billion, a 142% increase year-on-year. 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. 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. 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. 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. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. We use ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App Brems told the FT that the clips are used without her consent. 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. Premium access for businesses and educational institutions. The New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and The US is banning the app from federal government devices and numerous states have taken similar measures. "Key Financial Figures of Bytedance in 1st Quarter of 2022 (in Billion U.S. Please create an employee account to be able to mark statistics as favorites. Before ByteDance's Chinese statement on Monday, CNBC reported the company would retain an 80% stake in TikTok Global. India upheld the ban in January 2021, which has led to several other TikTok-clones taking over market share in the country. ByteDance financials. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. Reuters. The current status of the Department of Commerces implementation of the August 6 Order can be found here. They show that the companys revenues grew ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. ByteDance also allowed the Chinese government to take a special management stake in one of its Chinese subsidiaries in late 2019, Reuters reported in 2021. However, President Trumps executive order has been canned by the Biden Administration. 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. (October 7, 2022). If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Show publisher information At just 10 years old, ByteDance, the most valuable startup in the world, has shattered records for growth. Accessed May 01, 2023. https://www.statista.com/statistics/1342785/bytedance-key-quarterly-financial-figures/, Yahoo. It is expected to surpass 1 billion monthly active users by the end of 2021. Are you interested in testing our business solutions? 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. 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 Which industries has this organization most actively invested in? SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring 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. However, TikTok is not being acquired and will have the majority stake. 2022 The Business of Fashion. Oracle and Walmart said in a joint statement on Saturday that the global TikTok business will pay over $5 billion in new taxes to the U.S. Treasury Department., ByteDance clarified on Monday, however, that this is just a "forecast" of corporate taxes and other taxes that TikTok Global will need to pay for business development over the next few years. In the previous financial year, ByteDance had an operating profit of $684M. This added 80 million users, mostly in the US, which TikTok then imported to its own platform. Filter by: Select year: Date Filing Type Filing Description Download / View. He added ByteDance would just be a "passive shareholder. Meanwhile, it told the FT that it takes down content that violates its guidelines. 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. Customer Service. SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring possible collaboration in Privacy-preserving Technologies, as well as a tour of NTU SCRIPTS Centre. You may change your billing preferences at any time in the Customer Center or call The news comes after Chinese regulators launched a cybersecurity review into Didi, which listed on the New York Stock Exchange last month. The first AI Fashion Week offered a convincing showcase for AI-generated fashion. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information Published on 18 Apr 2022 ByteDance visited SCRIPTS. 2023 CNBC LLC. 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. WebChief Financial Officer: Charles Li: Chief Information Officer: Sally Wang: Director of Strategy & Investment: Youre viewing 5 of 24 executive team members. Apart from its flagship short video U.S. Secretary of State Mike Pompeo said the entity will be "controlled by Americans" in an interview with Fox News' "Sunday Morning Futures." Got a confidential news tip? 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.
