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. 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. "It'll be a brand new company. (if applicable) for The Wall Street Journal. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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 New York Times reported that some of the users whose data was accessed included two journalists, one at BuzzFeed News and 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. The still-robust growth at the worlds most valuable private tech firm could boost confidence among investors shaken by recent global events. 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. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. ByteDance hired Shou Zi Chew, a former executive at Chinese smartphone maker Xiaomi, as its CFO in March, fueling speculation about a potential IPO. 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. By signing up you agree to our privacy policy. Lots of unfamiliar swamp creatures turned up, too, when they realised that having the ear of the last person to speak to Mr Trump before he made a big decision was lobbying gold. Check if your SCRIPTS recently welcomed ByteDance, on 18 April 2022, for a hybrid meeting session with their teams from Singapore, APAC and US, exploring The Premium Bytedance Company Report contains critical information including: Revenue from previous years (2010 to present) Growth rate Estimated Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Got a confidential news tip? If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. 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. This extensionwill provide the partiesand the Committeeadditionaltimeto resolve this case in a mannerthat complies with the Order. 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. ByteDance's valuation in March 2020 was $105,000 - $140,000M. $ + tax journalists in 50+ countries covering politics, business, innovation, trends and more. Thank the Chinese consumer. Reuters. Profit from the additional features of your individual account. offers FT membership to read for free. Get the full list WebChief Financial Officer: Charles Li: Chief Information Officer: Sally Wang: Director of Strategy & Investment: Youre viewing 5 of 24 executive team members. Show publisher information Standard Digital includes access to a wealth of global news, analysis and expert opinion. You may change or cancel your subscription or trial at any time online. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. However, TikTok is not being acquired and will have the majority stake. Which types of acquisition does this organization make most frequently. Its operating loss was $2.1 billion after posting a profit the year before. Compare Standard and Premium Digital here. 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. You will be notified in advance of any changes in rate or terms. Customer Service. (October 7, 2022). 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. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. In 2019, India and Pakistan banned it for morality issues, with both bans being rescinded after a while. 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. 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 rapid growth TikTok has attracted a "cottage industry" of scammers, the FT says, citing dodgy items being hawked. The current status of the Department of Commerces implementation of the August 6 Order can be found here. 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. The Financial Times reported in August that ByteDance was seeking to go public in Hong Kong by early next year. ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App 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. Customer Service. 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. He subsequently replaced TikTok CEO Kevin A. Mayer, who left the ByteDance subsidiary after three months on the job. By. Bloomberg reported last week that ByteDances revenue surged more than 30 percent to surpass $80 billion in 2022, matching the tally at archrival Tencent, after twin video platforms TikTok and Douyin drew eyeballs and advertisers from social media incumbents. How many investments has this organization made over time? The news comes after Chinese regulators launched a cybersecurity review into Didi, which listed on the New York Stock Exchange last month. Programmes. For a full comparison of Standard and Premium Digital, click here. ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. ByteDances profit last year came despite mounting losses at fast-growing TikTok, according to the Financial Times. 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. This added 80 million users, mostly in the US, which TikTok then imported to its own platform. ", 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. "Brems also told Insider via Instagram message that "there's numerous fake accounts of me promoting nonsense 'weight loss' coffee.". Published on 18 Apr 2022 ByteDance visited SCRIPTS. We have collected data and statistics on TikTok. 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.". Related Topics Partnerships Industry Research Technology 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. From there, TikTok snowballed into the most popular app in 2019 and 2020. TikTok, known as Douyin in its home market, was launched in China in September 2016. 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. 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. Just Dont Call Them NFTs. Its chief executive sat through a hostile congressional hearing, during which he did little to sway some of the loudest critics. TikToks spiralling use around the globe brought in about $15bn in revenues for Beijing-based parent company ByteDance last year. October 7, 2022. The US is banning the app from federal government devices and numerous states have taken similar measures. ByteDance financials data including stock price, CreditSafe score, income statement, and acquistions and subsidiaries. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Financial Matters. ", 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. If you are an admin, please authenticate by logging in again. 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 TikTok has amassed more than 150 million monthly users in America, spurring concerns about Chinas access to the data it gathers. The ideal entry-level account for individual users. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Missed the A.I. 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. Please do not hesitate to contact me. In April, the company said it had no immediate plans to go public. "Key financial figures of ByteDance in 1st quarter of 2022 (in billion U.S. They Refused to Fight for Russia. Get this delivered to your inbox, and more info about our products and services. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. In January, ByteDance launched a new payments service within Douyin to experiment with financial technology. They show that the companys revenues grew "We don't comment on rumors or speculation," a ByteDance spokesperson told CNBC. Douyin, the Chinese version of TikTok, has over 700 million daily active users and is one of the most popular apps in the country. In 2021, it generated $4.6 billion, a 142% increase year-on-year. As 2023 gets underway, the pressure on fashions new favourite app is only set to increase. Source: TikTok Report. statistic alerts) please log in with your personal account. [Online]. or 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. Oracle would become the secure cloud provider and host American users' data in the country.. ByteDance can afford to be patient with the lossmaking Western app thanks to its lucrative Chinese version, Douyin. ByteDances Profit Surges 79%, Exceeding Alibaba and Tencent 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. WebIn 2015, Chew joined smartphone giant Xiaomi as its chief financial officer. Source: App Ape. 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. All Rights Reserved. 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. 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. Some of Mo's company's videos rely on clips of Dr. Dana Brems, a podiatrist and social media influencer based in Los Angeles, to lend credibility to their claims, the FT reported. Trump: Oracle, Walmart must have total control of TikTok. analyse how our Sites are used. 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. The Law Did Not Treat Them Kindly. Market The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. ByteDances revenue for 2020 totaled $34.3 billion, up 111% year-on-year. 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. The FT's report mentioned a seller named Mo Huabin whose company posts videos of products that appear to violate ByteDance's guidelines. They're pedaling products like fake weight loss coffee and acne medicine, the FT found. WebSEC Filings. And even if they are taken down, Brems said it's a difficult process. 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. 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. Agenda-setting intelligence, analysis and advice for the global fashion community. The hard part may be turning the designs into real clothes. 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. TikTok also faced having to sell its operations in the US to a holding company, which would have been controlled by Walmart and Oracle. The privately held company on Thursday shared highlights of its 2020 financial performance with its employees. Business Solutions including all features. It quickly started to gain traction in China and parent company ByteDance launched an international version the following year. For cost savings, you can change your plan at any time online in the Settings & Account section. Zhangyue Technology is a China-based developer of the iReader e-book reader. 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. dollars)." Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. WebByteDance was founded in 2012 by a team led by Yiming Zhang and Rubo Liang, who saw opportunities in the then-nascent mobile internet market, and aspired to build The Chinese internet company has managed to find success internationally with TikTok, the short video app popular for dancing and lip syncing. Advertising is a key part of ByteDances revenue on its platforms, but it has started pushing into new areas such as gaming and is pitting itself against some of Chinas other tech giants like Tencent. WebByteDance's latest funding round was a Secondary Market for $100M on March 14, 2023. We want to hear from you. The sneaker giant is launching its first big collection of digital goods under its own name after signing up more than 330,000 members to its new web3 platform, .Swoosh. 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. Renewables firms went from spending an annual average of around $24m between 2013 and 2020, to $38m in 2021 and $47m in 2022. In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. Gain a global perspective on the US and go beyond with curated news and analysis from 600 Last year the tech group as a whole made a Douyin, though, remains ByteDances biggest cash cow. 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. Learn more about how Statista can support your business. Sign In. Images or B-rolls on this page may be used only for editorial purposes, and Chart. 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. For more on ByteDance's shelved IPO plans, you can read the full story from the Journal here. cookies "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. 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 ", "I used to do oil deals all the time. Now that TikTok users are beginning to catch on, Mo's team has moved to selling legitimate goods on TikTok's marketplace being rolled out in the US. How much funding has this organization raised over time? and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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. The leadership team of Shou and Vanessa sets the stage for sustained growth, ByteDance CEO Yiming Zhang said in a statement. 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. organisation In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. Nike Has a Plan to Take Digital Goods Mainstream. You may cancel your subscription at anytime by calling All Rights Reserved. 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. Statement on ByteDance and TikTok by Treasury Spokesperson Monica Crowley, Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Media Advisory: Sanctions-Related Travel by Senior Treasury Department Officials, Treasury, IRS Release Plan to Deliver Improved Service for Americans, Reduce Deficit by Hundreds of Billions, Remarks by Secretary of the Treasury Janet L. Yellen at the National Association for Business Economics 39th Annual Economic Policy Conference, Report on Foreign Portfolio Holdings of U.S. Securities at End-June 2022, Treasury Department Announces Approval of Federal Funds to Connect Hawaii Homes and Families to Affordable, High-Speed Internet as Part of President Bidens Investing in America Agenda, Treasury Sanctions Fugitive, Others Linked to CJNG Timeshare Fraud Network, Remarks by Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg at Media Engagement in Astana, Kazakhstan, Remarks by Secretary of the Treasury Janet L. Yellen at the Sacramento Metropolitan Chamber of Commerces 51st Annual Capitol-to-Capitol Program As, Remarks by Under Secretary Brian Nelson at American Chamber of Commerce Austria Roundtable, Form 941, employer's quarterly federal tax return, READOUT: G7 Enforcement Coordination Mechanism Deputies Meeting, READOUT: Treasury Department Convenes Roundtable to Discuss the American Rescue Plans Historic Investments in Rental Assistance for AANHPI Communities, READOUT: Treasury Department Convenes Roundtable Discussion on Inflation Reduction Act Incentives for Underserved Communities, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service.
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