TikTok owner ByteDance’s revenue surged 111% in 2020, records 1.9 billion users - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: International News (https://forums.ipoh.com.my/forum-13.html) +---- Forum: Business, Economy and Investment (https://forums.ipoh.com.my/forum-56.html) +---- Thread: TikTok owner ByteDance’s revenue surged 111% in 2020, records 1.9 billion users (/thread-1882.html)

TikTok owner ByteDance’s revenue surged 111% in 2020, records 1.9 billion users - superadmin - 06-17-2021 ByteDance’s revenue for 2020 totaled $34.3 billion, up 111% year-on-year. Its operating loss was $2.1 billion after posting a profit the year before. The rapid growth underscores the excitement around ByteDance, a private company, and why its valuation has reportedly been pegged north of $100 billion. GUANGZHOU, China — ByteDance, the owner of TikTok, saw its revenue for 2020 more than double, a person familiar with the matter told CNBC. Revenue for last year totaled $34.3 billion, up 111% year-on-year, senior management at the company told employees in a company-wide meeting. Gross profit rose 93% to $19 billion, the person who attended the meeting said. ByteDance had 1.9 billion monthly active users by the end of 2020 across all of its platforms — which include its widely popular short video app TikTok, the Chinese version Douyin, and news aggregation app Toutiao, among others. - More -