Keep pioneering and innovating instead of relying on resources or past achievements. It also has the second-most expensive annual . Expose problems candidly. [32][33][34][35][36] The Economist and Reuters have described the Chinese government's stake in ByteDance as a golden share investment. On Thursday, ByteDance shared its financial report for the year 2019 to 2020 with the employees, saying that the company's revenue grew by 111% in one year. From data analytics tools to computer vision software, our solutions help businesses reach their potential.For more information, please visit https://www.byteplus.com/. In December 2016, it invested in the Indonesian news recommendation platform BABE. Always maintain an entrepreneurial mindset. . [38] In 2019, ByteDance formed joint ventures with Beijing Time, a publisher controlled by the Beijing municipal CCP committee, and with Shanghai Dongfang, a state media firm in Shanghai. Tech news website The Information last November reported that ByteDance's 2021 revenue was on track to rise about 60% to 400 billion yuan ($63.07 billion). TikTok is reported to have over 800 million daily active users which compares to 1.73 billion [73][74][75][76], In April 2018, China's state media regulator, the National Radio and Television Administration (NRTA), ordered the temporary removal of Toutiao and Neihan Duanzi from Chinese app stores. Other performance and liquidity ratios are available here . The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. The company is also the developer of the news platform Toutiao. Pursue mutual growth with the organization. Their servers are each based in the market where the respective app is available. [43], First released to the public in September 2016, Douyin (Chinese: ; pinyin: Duyn), previously named A.me, is the Chinese version of TikTok. Dare to take calculated risks for bigger gains, with a focus on return on investment. The NRTA accused Neihan Duanzi in particular of hosting "vulgar" and "improper" content and "triggering strong sentiments of resentment among internet users". [13], In March 2016, ByteDance established its research arm, called the ByteDance AI Lab. Reject complacency. Select Dow Jones, a News Corp company About WSJ News Corp is a global,. of 2019. Summary financials. TikTok was downloaded 850 million times in 2020 and is the first non-Facebook app to reach three billion downloads, which . Detailed statistics. For more information, please visit https://www.byteplus.com/. To use individual functions (e.g., mark statistics as favourites, set TikTok Is China's Most Important Export Right Now", "ByteDance to Launch Google-Like Work Tools During Outbreak", "Bytedance officially launches productivity tool Lark", "U.S. Appeals Injunction Against TikTok Ban", "A Guide to TikTok for Anyone Who Isn't a Teen", "TikTok is reportedly experimenting with 3-minute videos", "Chinese news reading app Toutiao acquires Flipagram", "More Chinese will be watching Flipagram videos", "How a News Startup Caught China's Tencent by Surprise", "This Startup Is Luring Top Talent with $3 Million Pay Packages", "The News Reads You in Chinaand People Can't Get Enough of It", "This migrant worker lost his 56-year-old mentally ill sibling during Lunar New Year travel crush. 49-50 Eagle Wharf Rd, London, N1 7ED, [42] According to disclosures filed under the Lobbying Disclosure Act of 1995, ByteDance has lobbied the United States Congress, White House, Department of Commerce, Department of State, and the Department of Defense. Nov 9, 2022. Nike Reports Increase in Revenue to $10.9 Billion USD in Q3 of Fiscal 2022. Lark is the next-generation digital collaboration suite, which includes chat, email, video conferencing, and cloud storage, and enables teams to do their best work together. ByteDance was last valued at $180 billion, however trading in private markets has exceeded $350 billion ( SCMP) More Video App Data Netflix Revenue and Usage Statistics (2022) Video Streaming App Revenue and Usage Statistics (2022) Twitch Revenue and Usage Statistics (2022) Hulu Revenue and Usage Statistics (2022) The digital marketing guide: expert insight, case studies, fresh approaches, and overlooked opportunities. [99], On 3 August 2020, U.S. president Donald Trump set September 15 as the deadline for TikTok, a social media app under ByteDance, to find a US buyer, and he then issued executive orders that would effectively ban TikTok[100] from operating in the country if it is not sold by ByteDance within 45 days. It empowers everyone to capture and present the world's creativity, knowledge, and moments that matter in everyday life, presenting a wide and diverse range of content on the platform.For more information, please visit https://www.douyin.com/. Executive summary TikTok was the most downloaded app of 2020 and retained that title in 2021, along with being the highest grossing app of the year. "[98] Carr called for Apple and Google to remove TikTok from their respective app stores. Our Mission. One report described a meeting between representatives from Bytedance and the CAC, in which Bytedance employees "had to rely on a mix of metaphors and simplified language" to communicate with the officials. It is classified as operating in the News Syndicates industry. See insights on ByteDance including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. As of June 2021, ByteDance hosts 1.9 billion monthly active users across all of its platforms. "headlines"), which would become their core product. Think global. [16], From late 2016 until 2017, ByteDance made a number of acquisitions and new product launches. [83] In April 2020, the CAC ordered ByteDance to take down its office collaboration tool, Lark, because it could be used to circumvent Internet censorship. Stay open and humble. This is a list of Internet companies by revenue and market capitalization.The list is limited to dot-com companies, defined as a company that does the majority of its business on the Internet, with annual revenues exceeding US$1 billion.It excludes Internet service providers or other information technology companies. [30] As of March 2021, it was estimated to be valued at $250 billion in private trades. Get full access to all features within our Corporate Solutions. Other notable acquisitions include the UGC short video platform Hypstar (Vigo Video) in July 2017,[18] and News Republic from Cheetah Mobile in November 2017. [93] In March 2021, the Indian government froze ByteDance's bank accounts in the country for alleged tax evasion, which ByteDance disputed. In, Reuters. Douyin is China's leading destination for short-form mobile videos. [36][37], ByteDance's China business has a strategic partnership with the Chinese Ministry of Public Security for the ministry's public relations efforts. Tech for Good Explore alternative solutions in a larger scope for the optimal result. Copyright Music Ally All rights reserved 2022 - Website designed and maintained by. ByteDance reportedly generated a massive $5.6 billion in revenue in the first three months of 2020. [14][15] The same year, the ByteDance AI Lab and Peking University co-developed Xiaomingbot (), an AI bot that wrote news articles. TikTok For Good has launched campaigns in the United States, India, the United Kingdom, Japan, Korea, France, Germany, Mexico, and more. Solve problems together. [10] That March, Yiming and Liang founded ByteDance. Consumer & Brand Reports. [12], In August 2012, ByteDance launched the first version of news and content platform Toutiao (, lit. [28], As with many Chinese companies, ByteDance has an internal CCP committee with Vice President Zhang Fuping serving as the company's CCP Committee Secretary. Always maintain an entrepreneurial mindset. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. From data analytics tools to computer vision software, our solutions help businesses reach their potential. Use Ask Statista Research Service. Don't just get the job done, execute with excellence. First released to the public in September 2017, TikTok is a video-sharing social networking service[48] used to make short-form videos, from genres like dance, comedy, and education. [31], In April 2021, a state-owned enterprise owned by the Cyberspace Administration of China and China Media Group, the China Internet Investment Fund, purchased a 1% stake in ByteDance's main Chinese entity and placed a government official, Wu Shugang, on its board of directors. For a more general list of technology companies, see list of largest . Please do not hesitate to contact me. Revenue (Q1, 2020) Lobbying", "TikTok maker ByteDance finds new success in US with CapCut, a hit video editing app", "The Chinese version of TikTok now has 600 million daily active users", "Forget the Trade War. [55], In 2017, Toutiao acquired Flipagram. The report showed its global headcount as more than 130,000 people at the end of 2021, although it also cites recent claims that ByteDance is mulling potential cost-cutting to ensure it does not become too bloated as an organisation. Find jobs. Then you can access your favorite statistics via the star in the header. How many people have downloaded TikTok? The Knowledge - at-a-glance analysis of the modern music industry. [24], Zhang Yiming was ByteDance's chairman and CEO from its founding in 2012 until 2021, when co-founder Liang Rubo took over as CEO. Bytedance's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. ByteStyle is fundamental to corporate culture at ByteDance and represents the principles we uphold as employees. Music Ally Ltd., Holborn Studios, As per the company's memo, seen by. Access unlimited News articles on the site, PLUS a trial of Music Allys subscriber-only services, including our industry-leading daily Bulletin email. Value individual differences, and focus on people's unique strengths. Stay agile and pursue efficiency and simplicity. Xigua Video is one of Chinas most popular video applications that enable users to discover, enjoy and share a wide range of video stories, both short-form and long-form.For more information, please visit https://www.ixigua.com/. . Latest bytedance data and analysis from Insider Intelligence including reports, charts, and articles. ByteDance founded in a four-bedroom apartment, Toutiao launches as one of ByteDance's first products, Douyin launches in China and quickly becomes a popular short-video sharing platform, ByteDance becomes the controlling stakeholder of Indonesian news app BABE, TikTok launches outside of mainland China, ByteDance acquires popular short-video platform musical.ly, Helo launches in India as a social media platform, musical.ly merges with TikTok to unify the two platforms, Lark launches in Japan and Singapore as ByteDance's first enterprise product. Keep pioneering and innovating instead of relying on resources or past achievements. In 2021, the Chinese tech company ByteDance generated about 250 billion yuan revenue from its advertising business segment. [6][needs update], ByteDance has attracted regulatory attention in several countries over surveillance, privacy, and censorship concerns. Today, ByteDance founder Zhang Yiming released an internal letter announcing he will transition to a new role at the end of 2021, focusing on long-term strategy, corporate culture, and social responsibility. [42], First released to the public in April 2020, CapCut is a video editing software made for beginners. [41], ByteDance's lobbying efforts in the U.S. are led by Michael Beckerman. Be accurate, concise, and straightforward. Essential international guides, packed with data, interviews, strategies, and local insight. Be an independent thinker. ByteDance has multiple content platforms under its belt that provide information, entertainment, and . ByteStyle refers to our set of core values. [46] Lark was originally developed as an internal tool, becoming ByteDance's primary internal communication and collaboration platform, but was eventually made available to external users in certain markets.[47]. Live and be driven by our mission and vision. Hipgnosis Songs Fund enjoyed a good run as a media darling, with warm coverage of its ambition to make songs a lucrative asset class for investment. In 2022, the studio has launched Marvel Snap in October worldwide, after closed alpha testing in the Philippines, and gradually entering open beta with the first country being New Zealand. Later in 2021, Moonton became a subsidiary of Nuverse, after winning the bid, initially set by Tencent.[61][62]. Kingsley Lam leads Global Payment and Fintech Partnership at ByteDance / TikTok in the Americas and Europe. BytePlus provides intelligent platform services powered by industry-leading research in emerging technologies. [97], In June 2022, FCC Commissioner Brendan Carr described ByteDance as "beholden" to the Chinese government and "required by law to comply with [Chinese government] surveillance demands. (Annual sales and employees) What industry is the company in? Nov 9, 2022. Apart from its flagship short video apps Douyin and . The fast-growing company more than . [91], Citing national security issues the Indian Government banned TikTok along with 58 other Chinese apps on 29 June 2020. Reuters. ByteDance Ltd. is an Internet technology company headquartered in Beijing. In 2021, Beijing-based ByteDance reported approximately 58 billion U.S. dollars in revenues, up by almost 69 percent compared to the previous year. Show patience and resilience in the face of short-term fluctuations. TikTok Owner ByteDance Revenues Surge 111% to $34.3 Billion USD in 2020: Gross profits increased by 93%. Insist on high standards. TikTok-owner ByteDance is on track to generate at least 180 billion yuan ($27.2 billion) in advertising revenue in China this year, which will cement its no. [94], On 27 February 2019, the Federal Trade Commission (FCC) fined TikTok US$5.7 million for collecting information from minors under the age of 13 in violation of the Children's Online Privacy Protection Act in the United States. [44] TikTok and Douyin have almost the same user interface but no access to each other's content. The app will focus on high-quality and ad-free novels. [103] On 28 August 2020, the Chinese Ministry of Commerce and the Chinese Ministry of Science and Technology announced that any sale of ByteDance's technology to foreign firms is a matter of "national security" and would require prior approval. TikTok is the leading destination for short-form mobile video. Contact Sales: 1-800-405-0844. BytePlus provides intelligent platform services powered by industry-leading research in emerging technologies. We have also partnered with some of the world's leading non-profits, including the World Wildlife Fund, Conservation International, GiveIndia, the British Olympic Association, the Red Cross, the American Society for the Prevention of Cruelty to Animals, among others.To learn more, please visit {link}https://www.tiktok.com/forgood. Drive communication and form conclusions with facts, instead of assumptions or emotions. ByteDance has 1 employees across 7 locations and $17.2 b in annual revenue in Y 2019. "profound gags"). United Kingdom, Music Ally is a Registered Learning Provider 10029483. There are also some figures for the first three months of 2022 showing nearly $18.3bn of revenue and a net loss of $4.7bn down 84% from the $29.1bn in the first quarter of 2021. [1], Founded by Zhang Yiming, Liang Rubo and a team of others in 2012, ByteDance developed the video-sharing social networking services and apps TikTok and Chinese-specific counterpart Douyin. [87] The bank stated that ByteDance must conduct comprehensive self-examination and rectification to adhere to the country's laws. Toutiao used interest-based and decentralized distribution to help long tail content creators find an audience. For the last Sandbox Guide of 2022, we look at how you can successfully launch Latin music in your own territories. Kingsley joined ByteDance in 2020 after 11 years at JPMorgan, where he headed the Greater China corporate coverage in North America. [45], First released to the public in 2019, Lark is ByteDance's enterprise collaboration platform. If you are an admin, please authenticate by logging in again. Helo brings people together in a safe online environment and allows them to connect with a wider online community.For more information, please visit https://www.helo.com/. Step by step, the American Music Fairness Act is working its way through the US legislative system. This allowed users to circulate jokes, memes, and humorous videos. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information dollars)." [29], ByteDance is financially backed by Kohlberg Kravis Roberts, SoftBank Group, Sequoia Capital, General Atlantic, and Hillhouse Capital Group. 2 spot in China's digital ad market . At the same time, it's book networth has decreased by -6.23 %. Our Culture. "[85][86] In April 2021, ByteDance was among 13 online platforms ordered by the Chinese central bank to adhere to tighter data and financial regulations. Bytedance's Annual Report & Profile shows critical firmographic facts: What is the company's size? We believe at ByteDance that high ethical standards and a culture of integrity play a pivotal role throughout the development of the company. Inspire Creativity, Enrich Life. Our mission is to inspire creativity and bring joy. Reduce unnecessary procedures. Jiemian: Bytedance has released the reading app "Fanqie Xiaoshuo," or "Tomato Novel,". [88] In May 2021, the CAC stated that ByteDance had engaged in illegal data collection and misuse of personal information. Avoid overusing jarggon or elaborate terms. [41], In April 2022, ByteDance announced that it would report users' content on Toutiao and Douyin that engaged in "historical nihilism" in contradiction of official CCP history. (Annual sales and employees) What industry is the company in? ByteDance has garnered public attention over surveillance[7] and privacy[72] concerns as well as allegations that it worked with the Chinese Communist Party (CCP) to censor content on its platforms pertaining to human rights abuses in Xinjiang and other topics deemed sensitive by the CCP. [90], In November 2022, during the 2022 COVID-19 protests in China, the CAC directed ByteDance to intensify its censorship of the protests. [25], On 19 May 2020, ByteDance and Disney released an announcement that Kevin Mayer, head of Disney's streaming business, would join ByteDance. Show publisher information Powered by easy-to-use video creation tools, Douyin quickly became a highly popular app across the country. Annual revenue generated by ByteDance from 2019 to 2021 (in billion U.S. dollars) [Graph]. ByteDance is a technology company operating a range of content platforms that inform, educate, entertain and inspire people across languages, cultures and geographies. Be grounded and focus on real impact. The ideal entry-level account for individual users. ByteDance Ltd. (Chinese: ; pinyin: Zji Tiodng) is a Chinese internet technology company headquartered in Beijing and incorporated in the Cayman Islands. "[102] On 14 August 2020, Trump issued an executive order mandating that ByteDance divest from all U.S. operations of TikTok within 90 days. Accessed December 11, 2022. https://www.statista.com/statistics/1285540/annual-bytedance-revenue/, Reuters. Brief, deep analysis of essential music business stuff:every week, in about 20 mins. 58 bn USD. Toutiao helped find him", "ByteDance to enter long-form streaming video market", "Toutiao Search is online now, a search engine from ByteDance", "BBC Studios Sets Content Deal With China's Xigua Video", "Nuverse | Inspire Creativity,Enrich Life", "ByteDance acquires gaming studio Moonton at around $4 billion valuation: sources", "Bytedance beats Tencent to acquire Moonton Studios of Mobile Legends fame", "TikTok maker ByteDance refocuses on education apps back home in China amid trouble overseas", "ByteDance to close some tutoring ops after clampdown - sources", "TikTok Owner ByteDance Acquires Moonton and Mobile Legends: Bang Bang", "TikTok owner (ByteDance) is buying Mobile Legends creators (Moonton) for $4 billion", "ByteDance debuts first metaverse-like social app Party Island", "Resso, ByteDance's music streaming app, officially launches in India, sans Tencent-backed Universal Music", "TikTok Owner ByteDance Launches Resso App in India, Taking on Spotify", "TikTok Owner ByteDance Distributed Pro-China Messages To Americans, Former Employees Say", "TikTok owner ByteDance kills news aggregator app TopBuzz", "Leaked Audio From 80 Internal TikTok Meetings Shows That US User Data Has Been Repeatedly Accessed From China", "TikTok's owner is helping China's campaign of repression in Xinjiang, report finds", "Xinjiang's TikTok wipes away evidence of Uyghur persecution", "Exclusive: ByteDance censored anti-China content in Indonesia until mid-2020 sources", "Revealed: how TikTok censors videos that do not please Beijing", "Jokes app Neihan Duanzi shuttered by China's media regulator for 'vulgarity', "ByteDance Can't Outrun Beijing's Shadow", "TikTok leader schedules Washington trip to meet with lawmakers as investigations loom", "Why China's tech giants are cozying up to the Communist Party", "Why China Cracked Down on the Social-media Giant Bytedance", "China orders ByteDance to fix 'slanderous' smear of CCP martyr", "China Orders TikTok Owner ByteDance to Remove Work-From-Home App", "TikTok's Owner, ByteDance, Fined in China for Vulgar Content", "TikTok's Chinese version Douyin fined for vulgar content as Beijing continues cyberspace crackdown", "Giants Tencent, Bytedance among companies reined in by China", "China Warns Large Tech Firms as Industry Faces Rising Oversight", "ByteDance, Kuaishou, and Microsoft given 15 days to fix illegal data collection", "Web users in China told to report posts guilty of 'historical nihilism' against Communist Party line", "China Clamps Down on Internet as It Seeks to Stamp Out Covid Protests", "India bans TikTok, dozens of other Chinese apps", "India to impose permanent ban on 59 Chinese apps, including TikTok - Indian media", "India blocks bank accounts of China's ByteDance, company mounts challenge", "Video Social Networking App Musical.ly Agrees to Settle FTC Allegations That it Violated Children's Privacy Law", "TikTok has been illegally collecting children's data", "TikTok stops young users from uploading videos after FTC settlement", "FCC commissioner calls on Apple and Google to remove TikTok from their app stores", "Two senators call for FTC probe into TikTok over U.S. data access", "Trump Signs Executive Order That Will Effectively Ban Use Of TikTok In the U.S.", "Trump issues orders banning TikTok and WeChat from operating in 45 days if they are not sold by Chinese parent companies", "TikTok threatens legal action against Trump US ban", "Trump tightens screws on ByteDance to sell Tiktok", "TikTok Deal Is Complicated by New Rules from China Over Tech Exports", https://en.wikipedia.org/w/index.php?title=ByteDance&oldid=1126853216, Information technology companies of China, Multinational companies headquartered in China, Short description is different from Wikidata, Articles containing Chinese-language text, Wikipedia articles in need of updating from October 2022, All Wikipedia articles in need of updating, Articles containing simplified Chinese-language text, Creative Commons Attribution-ShareAlike License 3.0, Lidong Zhang (Chairman of ByteDance China), This page was last edited on 11 December 2022, at 15:45. 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