SEOUL: From its delivery in a Beijing condominium 12 years in the past, ByteDance grew into one of many world’s largest tech corporations – finest identified in most nations because the creator of TikTok.
However TikTok now faces a livid marketing campaign in Washington: the Home of Representatives accredited of a invoice on Wednesday (Mar 13) that might see the wildly standard video-sharing app banned in the USA if it doesn’t sever itself from ByteDance.
HOW BIG IS BYTEDANCE?
ByteDance has rocketed in recent times to develop into some of the useful firms on the earth, value round US$225 billion, in line with market intelligence agency CP Insights.
That places it properly above Elon Musk’s SpaceX and ChatGPT maker OpenAI.
ByteDance launched TikTok in 2017, and the app took the world by storm, crossing a billion customers in 4 years.
The app was a world model of Douyin, which was launched in China in 2016 and now has tons of of hundreds of thousands of customers.
Because of the explosive development of those apps, ByteDance has branched out into e-commerce and journey bookings and in addition launched a video modifying app.
The Chinese language firm says it has greater than 150,000 staff in virtually 120 cities world wide.
A privately held agency, ByteDance doesn’t launch income and revenue figures, however media estimates of its earnings put it on par with a few of the largest corporations on the earth.
In 2023, ByteDance’s gross sales crossed US$110 billion, Bloomberg reported in December, a determine better than Chinese language tech big Tencent’s estimated revenues that 12 months.
ByteDance didn’t reply to AFP queries about its revenues, together with how a lot it earns from TikTok.
AFP, together with greater than 100 fact-checking organisations, is paid by TikTok and Fb dad or mum Meta to confirm movies that doubtlessly include false data.
