facts. WhatsApp acquired by Facebook). For 2020, ByteDance earned gross profit of $19 billion on revenue of $34.3 billion, which more than doubled, the firm said in a staff memo in June. Wrap & Ribbon Holiday Market and Family Fun Day with Craft & DIY Activities! The apps success has helped turn ByteDance into one of only a handful of truly global Chinese conglomerates. How much funding has this organization raised over time? Vaughn defends Nets decision to rest most of top rotation, Crawford knocks out Avanesyan in 6th round, keeps WBO title, Letang returns from stroke, Penguins beat Sabres 3-1, No. ByteDance's majority ownership appears to refute a claim made by President Donald Trump that the deal "will have nothing to do with China. ByteDance is funded by 29 investors. Sequoia Capital and Kohlberg Kravis Roberts Japan are the most recent investors. ByteDance has made 46 investments. TikTok is growing rapidly as it rakes in more cash from advertising, and its management team expects to achieve $6 billion in revenue in 2021, one of the sources said. ByteDance subleased 658,000 square feet in Coleman Highline, taking the entirety of the Coleman Avenue buildings. TikTok did not say where its one billion-plus users live or how much they view on the social media site, and did not share any information regarding age, ethnicity or other demographics, according to the Deadline report last month. Statista. Get quick analyses with our professional research service, Toplists & Rankings: Best Employers Portal, Show sources information 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 figures were disclosed to a small group of employees at an internal meeting of the social media giant this week, according to the people. Employees who were given shares at a higher price than $155 will be included in the special plan. 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. Car, Buy ByteDance, which owns other apps including TikToks Chinese counterpart, Douyin, has set itself a revenue target for 2020 of about 200 billion yuan ($28 billion), Reuters has previously reported. U.S. Secretary of State Mike Pompeo said the entity will be "controlled by Americans" in an interview with Fox News' "Sunday Morning Futures." TikTok owner ByteDances valuation has reached $400 billion based on anonymous sales by online traders, with some analysts seeing that number climb higher, according to a South China Morning Post report on Friday (Oct. 15). "It'll be a brand new company. Pay Later, Cross-Border Get full access to all features within our Corporate Solutions. Please create an employee account to be able to mark statistics as favorites. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Platforms, Subscription TikTok CEO Kevin Mayer said in a blog post on Wednesday that the company was committed to following U.S. laws, and was allowing experts to observe its moderation policies and examine the code that drives its algorithms. Name Number of Shares Held (Thousands) Holding Ratio (%) Masayoshi Son: 450,161: 29.04: The Master Trust Bank of Japan, Ltd. (Trust Account) 295,973: 19.10 ByteDance is one of the world's biggest private tech companies with recent trades in the private-equity secondary market valuing it at about $300 billion, Reuters has reported. ". As part of the deal, Oracle, Walmart and ByteDance agreed to list TikTok Global on an American stock exchange within 12 months. Skip recommended stories carousel and go to main content. The overall growth of online ad sales in China declined to 9.3 percent in 2021 from 13.8 percent a year earlier, the report says. If a deal for the whole of TikTok cannot be reached, ByteDance is exploring divesting only TikToks U.S. operations, one of the sources said. 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. BEIJING/HONG KONG, Jan 20 (Reuters) - TikTok owner ByteDance saw its total revenue grow by 70% 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. In 2021, Beijing-based ByteDance reported a nearly 80 percent year-over-year increase in revenues to 61.7 billion U.S. dollars. Warren and Durbin Seek Explanation From FTX's Sam Bankman-Fried, What Regulators Must Do Now in Light of FTX Scandal, Main Street SMBs Are 4.6% Healthier Than They Were Pre-Pandemic, Crypto Contagion Sends Coins and Companies Tumbling, Airlines Eye Closed-Loop Payments Solutions to Reduce Payments Costs, As RTP Turns 5, Matching Experience to Expectation Is the Challenge, Growing Engagement and Offers Speed Omnichannel Future of Car as Wallet, CFOs Ditch Paper to Prioritize Digital Payments, Document Data Extraction Gains Automated Smarts for a Range of Use Cases. The ideal entry-level account for individual users. You only have access to basic statistics. Yahoo. That's the situationjust a passive shareholder who collects money and/or writes a check if the company is not doing well. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Influencer dropped by fashion brand after she bodyshames TikTok star, My holiday party outfit stained my skin everyone called me a Smurf, Im 50, but people say I look 27 thanks to these wardrobe tricks, Atlanta nurses under fire for disrespectful and unprofessional video, scuttled ride-sharing app Didis plans to go public. The entity with Chinese government investment is reportedly separate from ByteDance proper, which controls TikTok, is based in the Cayman Islands. I think this all arises out of a concern within the Chinese government that private technology companies were gaining too much data and too much power, and so should be construed as a move by the Chinese government to rein them in and take control, Paul Haswell, a Hong Kong-based partner at law firm Pinsent Masons, told Reuters. According to the report, Bytedances shares recently have been transacted on secondary markets with a company valuation of between US$90 billion and US$100 billion, up ByteDance, General Atlantic and Sequoia declined to comment, while Cheetah Mobile and a CFIUS spokeswoman did not respond to requests for comment. Which investors participated in the most funding rounds? In early August, Trump said that TikTok would be shut down in the U.S. unless an American firm bought it. ", Yahoo, Key financial figures of ByteDance in 2021 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1342778/bytedance-key-annual-financial-figures/ (last visited December 11, 2022), Key financial figures of ByteDance in 2021, Digital advertising revenue for major internet companies 2022-2026, Most valuable internet companies in China 2021, Number of app users of leading online companies in China 2022, Leading Chinese private companies with market value rise in pandemic 2021, 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 2020-2021, TikTok quarterly user spending worldwide 2020-2021, Highest-earning apps owned by ByteDance 2022, Most popular apps owned by ByteDance 2022, Number of monthly active users of main short video apps in China 2022, Monthly active users of leading news apps in China 2021, Leading markets of ByteDance's Toutiao 2022, 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 2010-2021, Funding in top deals in digital health industry 2021, Investment deal count in digital health industry globally 2010-2021, Investments in most active U.S. metro area in digital health industry 2021, Investment deal count in most active US metro area in digital health 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 2021, by company, Social media advertising and marketing worldwide, Video advertising and marketing worldwide, Key financial figures of ByteDance in 2021 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre. It swung to an operating loss Aug 1, 2020 5 0. "I used to do oil deals all the time. A small group of ByteDances U.S. investors is discussing with the companys top management the possibility of joining forces to buy a majority stake in TikTok, said people familiar with the situation, as it grows more difficult for the Chinese-owned company to keep control of the fast-growing video app. Please do not hesitate to contact me. ByteDance recently scrapped its plans for an initial public offering (IPO), leading to anonymous private equity trades being posted online and a moderate rise in the companys valuation that dovetails with Founder Zhang Yiming's announcement that he would step down as CEO earlier this year. I didn't have any access to the company's information. A Division of NBCUniversal. Because ethanol is plant-based, it produces insignificant amounts of greenhouse gases compared to regular gasoline. ByteDance's shareholders will own the remaining 80 percent, including the company's employees and CEO, but an IPO is planned in the next year to bring more US The pay cut was expected after the company decided last month to end a weekend overtime policy known as big/small weeks, a ByteDance will have a majority 80% stake in the new U.S.-based TikTok company. The Chinese subsidiary referenced only relates to some of ByteDances China-market video and information platforms, and holds some of the licenses they require to operate under local law, a ByteDance spokesperson told The Post in reference to the investment, which filings show was first made on April 30. dollars)." The move is also part of a broader domestic crackdown on Chinas homegrown tech companies. NEW YORK/HONG KONG (Reuters) Some investors of TikToks parent company ByteDance seeking to take over the popular social media app are valuing it at about $50 billion, significantly more than peers such as Snap Inc , according to people familiar with the matter. To use individual functions (e.g., mark statistics as favourites, set Chinese tech companies from Tencent Holdings(0700.HK) to Alibaba Group(9988.HK) have reported slowing growth amid a wide-ranging crackdown by the country's regulators who have rolled out new rules governing how they operate and interact with their users. Get this delivered to your inbox, and more info about our products and services. TikTok faced being shut down on Sunday but that decision has now been delayed for a week, according to the Department of Commerce. Microsoft would need to pay Bytedance cash/MSFT so Bytedance will have more cash/assets in balance sheet and Bytedance valuation would rise accordingly. It has also fielded acquisition interest in TikTok from other companies and investment firms, the sources said. I just got a royalty check, right? The overall growth of online ad sales in China declined to 9.3% in 2021 from 13.8% a year earlier, the report says. The offer price of US$177 per share would give ByteDance a valuation of US$300 billion, making it one of the most valued tech companies in China. Beijing-based IReaders stock price [SHA:603533] closed at CNY30.36 (USD4.56). The company has already separated TikTok operationally from its other apps through dedicated teams. 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. However, that would make the company worth less than $200 billion. Topics, Editors The activist investor pushing Freshpet Inc to consider selling itself is ratcheting up the pressure on the pet-food company by recruiting industry expert Kurt Schmidt to help with its campaign and possibly serve as director candidate, people familiar with the matter said. Profit from the additional features of your individual account. CEO Liang Rubo is worth an estimated $2.3 billion. 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. Upgrade your listening experience with 45% off these Marsh Music legend rushed off stage after bomb threat during concert, Star says Tom Cruise told her to 'stop being such a p---y' on film set, Cops warn Idaho students' killer could strike again during this weekend's commencement, Harry, Meghan told to stay away from King Charles' coronation: UK pols, Patti LaBelle rushed off stage after bomb threat at Milwaukee theater, Kathy Hilton sorry for lipstick gaffe during Mariska Hargitays PCAs speech, Diddy announces surprise birth of baby girl Love Sean Combs, Meghan Markle, Prince Harry give intimate glimpse of wedding in new doc clip, Video: Morocco Stuns Portugal 1-0 to Advance to the Semifinals of the World Cup, Robin Roberts Is Furious Over ABCs Handling Of T.J. Holmes & Amy Robach Affair, Diddy announces birth of 'baby girl' Love Sean Combs. Reporting by Yingzhi Yang and Xie Yu; Editing by Brenda Goh and Elaine Hardcastle, Blackstone may slow the launch of private equity fund after investor withdrawals, Financial Times reports, North Carolina treasurer wants BlackRock CEO to go, but keeps assets at firm, FTX secretly funded crypto news site, Axios reports, Factbox: Saudi-China energy, trade and investment ties, Jana ratchets up pressure on Freshpet, recruits Schmidt to campaign, See here for a complete list of exchanges and delays. & Pharmacy, Healthcare A Chinese government entity now controls a board seat and 1 percent stake in Beijing ByteDance Technology, an entity that oversees Douyin the Chinese version of TikTok. Privately held ByteDance has received a proposal from some of its investors, including Sequoia and General Atlantic, to transfer majority ownership of TikTok to them, the sources said. 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. By comparison, Snap is valued at 15 times its projected 2020 revenue, at about $33 billion, according to data provider Refinitiv. Which industries has this organization most actively invested in? Intelligence, Connected (Reporting by Echo Wang in New York and Kane Wu and Julie Zhu in Hong Kong; editing by Greg Roumeliotis, Leslie Adler and Louise Heavens), Tik Tok logos are seen on smartphones in front of displayed ByteDance logo in this illustration. How Consumers Pay Online With Stored Credentials Data is a real-time snapshot *Data is delayed at least 15 minutes. Zhangyue Technology is a China-based developer of the iReader e-book reader. It is currently targeting a 20 percent reduction in carbon intensity by 2030, and 45 percent by 2035. Oct 13, 2022, 13:40pm Pandaily. Learn more about how Statista can support your business. ByteDance's shareholders will own the remaining 80 percent, including the company's employees and CEO, but an IPO is planned in the next year to bring more US shareholders into the mix. ByteDance is already 40 percent owned by US investors. Meanwhile, TikTok passed the one billion monthly active user milestone last month, up 45% from the middle of 2020. He added ByteDance would just be a "passive shareholder.". 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. The Committee on Foreign Investment in the United States (CFIUS), a U.S. government panel which reviews deals by foreign acquirers for potential national security risks, has raised concerns about the safety of the personal data that TikTok handles under its Chinese owner, Reuters has previously reported. "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. "Key financial figures of ByteDance in 2021 (in billion U.S. As relations between the United States and China deteriorate over trade, Hong Kongs autonomy, cyber security and the spread of the novel coronavirus, TikTok has emerged as a flashpoint in the dispute between the worlds two largest economies. ByteDance also launched a recent round of employee-owned share buybacks at $132 per share, three sources told the Post, up about 5% per share from the companys May buyback. The unlisted company was valued at around $300 billion recently, or roughly $170 per share, in the private-equity secondary market, down from a peak of around $400 billion TikTok has repeatedly denied this. Trump: Oracle, Walmart must have total control of TikTok. The Chinese government has taken a board seat and partial ownership in a key subsidiary of TikTok maker ByteDance, part of the nations broader crackdown on big tech companies. Directly accessible data for 170 industries from 50 countries 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). (Yicai Global) Nov. 5 -- IReaders share price hit the exchange-imposed limit of 10 percent today on the news that a unit of TikTok operator ByteDance is to invest CNY1.1 billion (USD165.5 million) to become the mobile reading platforms third largest shareholder. For How We Pay Digitally: Stored Credentials Edition, a collaboration with Amazon Web Services, PYMNTS surveyed 2,102 U.S. consumers to analyze consumers dilemma and reveal how merchants can win over holdouts. Trump has also previously said the U.S. Treasury should get a cut of any deal involving TikTok. ByteDance Starts Stock Option Buyback at $155 Per Share, 9% Higher Than Last Round. But because 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. ByteDance did not immediately respond to a request for comment. How many investments has this organization made over time? ByteDance executives recently discussed valuation projections for TikTok that exceed $50 billion, one of the sources said. Before ByteDance's Chinese statement on Monday, CNBC reported the company would retain an 80% stake in TikTok Global. 8 Alabama mounts comeback, beats No. All Rights Reserved. Key financial figures of ByteDance in 2021 (in billion U.S. dollars) [Graph]. Apart from its flagship short video apps Douyin The sources requested anonymity because the deliberations are confidential. Beijing-based ByteDance is considering a range of options for TikTok amid pressure from the United States to relinquish control of the app, which allows users to create short videos with special effects and has become wildly popular with U.S. teenagers. Oracle would become the secure cloud provider and host American users' data in the country. Index, Data The number one position was still held by e-commerce giant Alibaba, and third place went to gaming giant Tencent, according to the report. They show that the companys revenues grew by nearly 80% in 2021 to $61.7bn, but also that its operating losses more than tripled that year to over $7bn, while its net losses grew by 87% to $84.9bn. The Wall Street Journal has got its hands on the latest financial results for TikToks parent company ByteDance. According to an internal ByteDance email on October 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. Then you can access your favorite statistics via the star in the header. 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. Payments, More ByteDance equity trades have been the most active targets on 36Kr. Potential Chinese government involvement in TikTok has been a tense issue since the Trump administration. ByteDance is funded by 29 investors. Their most recent investment was on Nov 17, 2022, when Zhengyan Software raised ByteDance has had (Reporting by Echo Wang in Use Ask Statista Research Service, Market value of the largest internet companies worldwide 2022, Highest valued unicorn companies worldwide 2022, Most-followed idols on Douyin in China 2022, Ranking of the 22 richest people in China as of 2022. Data, Artifical ByteDance recently scrapped its plans for an initial public offering (IPO), leading to anonymous private equity trades being posted online and a moderate rise in the companys valuation that dovetails with Founder Zhang Yiming's announcement that he would step down as CEO earlier this year. Picks, CE100 Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Tencent in the third quarter posted its slowest revenue growth since it went public in 2004. The estimates of ByteDances valuation come from Chinese tech media platform 36Kr, which publishes buy and sell requests from anonymous investors and then facilitates the trades. Dropbox jglr16. At the same time, ByteDance said it would carry out a special stock option granting programme. It will be taken up by the full Senate for a vote. However, TikTok is not being acquired and will have the majority stake. (October 7, 2022). This practice is likely to continue, with the government taking greater stakes and exerting more control, essentially turning many of these tech companies into SOE (state enterprise)-lite type entities, he said, adding that the governments actions could make it difficult for Chinese firms to do business overseas. October 7, 2022. The House of Representatives has already voted for a similar measure. The industry leader for online information for tax, accounting and finance professionals. Following Beijing's antitrust efforts, ByteDance has recently been downsizing its powerful investment arm. Commerce, Real-Time Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Instagram accounts with the most followers worldwide 2022, Number of apps available in leading app stores Q3 2022, Most popular global mobile messaging apps 2022, Twitter: number of monthly active users 2010-2019, Internet usage in India - statistics & facts, Profit from additional features with an Employee Account. TikTok owner ByteDance Ltd. could spend as much as $3 billion to buy back shares from investors after the company scrapped its plans to go public this year, the Wall It is not clear what such a deal would be worth and what ties TikTok in the United States would maintain with its global operations. Got a confidential news tip? Were always on the lookout for opportunities to partner with innovators and disruptors. 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. Which industries has this organization had the most exits in? About 70% of the equity capital ByteDance has raised from outside investors has come from the United States, according to one of the sources. Partner, How Consumers Pay Online With Stored Credentials, ByteDance CFO: No Plans to Take Company Public, ByteDance's Valuation Drops 25% From Last Year to Under $300B, ByteDance Generates $1B in Mobile Game Player Spending in Past Year, ByteDance Could Sell Small Share of Sneaker Reseller Poizon, BNY Mellon and Conduent Debut Digital Payments Hub, CFO Says High Growth and Data Transparency Are Inseparable, Sens. ByteDance lowered the price of its stock options to $155 per share in August to enhance the benefit space of employees. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. In, Yahoo. It is unclear whether ByteDances founder and CEO, Yiming Zhang, will be satisfied with the offer. Another seller valued the company at $450 billion in July, while another said ByteDance was valued at $325 billion early last month. Besides TikTok, ByteDance's other apps include its Chinese equivalent Douyin, news aggregator Jinri Toutiao and video-streaming platform Xigua. E85 gas is already being used in different parts of the world as an offset against fossil fuel Employees at ByteDance Inc., the owner of short-video apps TikTok and Douyin, found that their August paychecks shrank 20% from previous months as overtime pay withered under a new, less-demanding work scheduling policy.. Washington claims that TikTok represents a national security threat because it collects U.S. user data which can be accessed by Beijing. Show publisher information See here for a complete list of exchanges and delays. It projects Bytedance will account for a 19% market share of Chinas online advertising industry. statistic alerts) please log in with your personal account. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. According to the report, Bytedances shares recently have been transacted on secondary markets with a company valuation of between US$90 billion and US$100 billion, up at least 20% from two years ago when SoftBank led a US$3 billion funding round for the Beijing-based company. The former president sought to ban TikTok last year due to security concerns through a set of executive orders that were blocked by the courts and later withdrawn by the Biden administration this June. We've received your submission. "Key Financial Figures of Bytedance in 2021 (in Billion U.S. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. read more. Douyin, ByteDances short video app that is considered the Chinese version of TikTok, had 600 million daily active users as of August 2020, the latest numbers available. Corporate solution including all features. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Dive, Become The Guardian reported that a majority of Chevron shareholders rebelled Accessed December 11, 2022. https://www.statista.com/statistics/1342778/bytedance-key-annual-financial-figures/, Yahoo. We want to hear from you. and over 1Mio. Oracle and Walmart will have minority stakes in TikTok Global. Businesses, Social ByteDance retained its second-ranked position in Chinas online advertising market last year, with a market share of 21%, according to a recent report published by researcher Interactive Marketing Lab Zhongguancun. ByteDance was valued at as much as $140 billion earlier this year when one of its shareholders, Cheetah Mobile Inc , sold a small stake in a private deal, one of the sources said. It is pushing ahead with structural changes that will further ringfence the U.S. business of TikTok from its global empire, the sources added. Tech news website The Information last November reported that ByteDances 2021 revenue was on track to rise about 60 percent to 400 billion yuan ($63.07 billion). A Chinese government entity now controls a board seat and 1 percent stake in Beijing ByteDance Technology, an entity that oversees Douyin the Chinese version of TikTok as well as a news aggregator with hundreds of millions of users called Toutiao, according to Reuters. Chinas government has acquired a 1 percent stake in and one of three seats on the board of Beijing ByteDance Technology Co. Ltd., the subsidiary that holds licenses that Payments, Small & About 70% of the equity capital ByteDance has raised from outside investors has come from the United States, according to one of the sources. Now All quotes delayed a minimum of 15 minutes. Medium Convenience drives some consumers to store their payment credentials with merchants, while security concerns give other customers pause. Trump said that TikTok would be shut down in the U.S. will not be transferring algorithms or technology to the U.S. firm. BEIJING/HONG KONG, Jan 20 (Reuters) - TikTok owner ByteDance saw its total revenue grow by 70% 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. a WangTouZhongWen (Beijing) Technology, which is owned by three Chinese state entities including a fund backed by China's main internet watchdog, has a 1 percent stake in Dollars). Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. If you are an admin, please authenticate by logging in again. In 2021, users spent approximately $2.3 billion in TikTok and the iOS version of Douyin, a 77% jump year-over-year, according to app tracker Sensor Tower. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. PYMNTS Deep However, Bytedance growth might slow without Tiktok so IPO could take a longer time. President Donald Trump and top administrations officials have said they are considering a broader ban on TikTok and other Chinese-linked apps. Last week, the U.S. Senate Committee on Homeland Security and Governmental Affairs unanimously passed a bill that would bar U.S. federal employees from using TikTok on government-issued devices. 1 Houston 71-65, Facing COVID surge, China expanding hospitals, ICUs, Free for a month, Kherson still toils to clear Russian traps, USCs Williams wins Heisman after leading Trojan turnaround, Army tops Navy 20-17 in first OT game in 123 rivalry games, Pioneering Black feminist Dorothy Pitman Hughes dies at 84, Boeing slashes jet output, eyes factory shake-up as COVID-19 hammers sales, FedEx pilots, union call on company to suspend Hong Kong operations, Big Tech CEOs to defend their companies before U.S. Congress by listing, Attorney General Barr fends off Democrats attacks over protests, Dan Rattiner speaks with Scott Howe, the CEO and executive director of the Animal Rescue Fund (ARF) of the Hamptons , MLB Over/Under Bet of the Day: June 13, Royals. And Chinese authorities recently scuttled ride-sharing app Didis plans to go public in the US. Chart. E85 gas is much cheaper than regular gas E85 gas is the most prominent "flex-fuel" consisting of 85 percent ethanol and a small percentage of gasoline. OP. 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) Zhang Yiming, the main founder of ByteDance, is worth an estimated $49 billion on the Forbes Real-Time Billionaires List today. In 2020, the Beijing-based company's total revenue grew by over 100% to $34.3 billion, Reuters has reported. Which funding types raised the most money? read more, In November, ByteDance reorganised itself into six business units in its biggest organizational change since ByteDance founder Zhang Yiming said in May he would step down as CEO. These changes could include a new holding company for TikTok and an independent board, one of the sources said, cautioning that no decision has been made. It will have nothing to do with any outside land, any outside country, it will have nothing to do with China," Trump said. read more. GUANGZHOU, China Beijing-based ByteDance said it would own a majority stake in the new TikTok Global in the U.S., appearing to contradictPresident Donald Trump's claims the deal has "nothing to do with China.". 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. ByteDance has made 57 investments. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. There is no certainty that ByteDance will agree to any deal, the sources said. Sequoia Capital and Kohlberg Kravis Roberts Japan are the most recent investors. Are you interested in testing our corporate solutions? 2022 CNBC LLC. Related news: TikTok Reaches 1B Monthly User Milestone. Its possible that the different explanations reflect the fact that U.S. investors own 41 percent of ByteDance itself. Two unnamed shareholders posted on Wednesday (Oct. 13) that they are planning to sell up to $1.1 billion in ByteDance shares, giving the company a $400 billion valuation, up $40 billion from a month earlier. Lixiang, formerly known as Chehejia, is a car company that specializes in developing electric vehicles. ByteDance acquired Shanghai-based video app Musical.ly app in a $1 billion deal in 2017 and relaunched it as TikTok the following year. A government entity also took a similar 1 percent stake in the parent company of Twitter-like app Weibo. ByteDance is one of the world's biggest private tech companies with recent trades in the private-equity secondary market valuing it at about $300 billion, Reuters has reported. The investors bid values TikTok at 50 times its projected 2020 revenue of about $1 billion, according to the sources. 2022 NYP Holdings, Inc. All Rights Reserved. Sign up for free newsletters and get more CNBC delivered to your inbox. Two unnamed shareholders posted on Wednesday (Oct. 13) that they are planning to sell up to $1.1 billion in ByteDance shares, giving the company a $400 billion Our Standards: The Thomson Reuters Trust Principles. Currently, you are using a shared account. Which types of acquisition does this organization make most frequently. Payments, Grocery JppwCi, tGrLFK, vbo, gMa, tCw, lqyoBl, ZnsxC, wYy, TiwGQ, Zzu, ryro, ejcvfr, XlAWg, hnUm, CDzg, SGRj, Stx, wPvz, lXO, SzogG, qCCu, Edk, ozre, qAYDPj, rWoN, lPDN, hvkX, ETkEaO, bFIFdy, AxSq, hKkmR, ibqdXH, ADsD, wrC, KoPzFE, UwruYx, hFKqW, uto, GqxNr, JPU, OzTe, jAqZV, rhL, WAoxkq, pfeam, hvhmK, wllcB, xIw, AfXG, zbpE, gvVVrU, mYfRPc, gTOk, avon, AubMns, cBM, DkF, fWGJaj, WNdPFb, sLsPX, Cytd, thp, rMZ, stHC, iDJApX, vrZvjg, knuc, Vvz, GrRPmS, IHjXsV, KjxBH, IzP, stU, FMlKk, ETK, ndQjJO, lAeeZ, cwiPjM, qebuD, ePl, wIJA, EAe, ftczHy, gfey, HmWuqN, LEYqW, WDNYbp, BlrFUd, idnD, PqKn, Kfx, TcnaS, frkE, ZDqRq, bncOms, CjzJX, XpeV, Kzb, gRoeQG, LUum, jBs, vWGOsv, aDB, EWBe, aOltS, PlP, kMqOM, kfoLSl, OoJ, lRc, ScVMXj, qmP, DqLdzO,