News Update

Byte Dance Claims Revenue Surge Of Tiktok.

• ByStartupStory     |    June 18, 2021

Chinese Internet conglomerate ByteDance sees revenue surge of Tiktok almost to a double of what it was previously. It’s gross profit increased by 93% of $19 billion. ByteDance had 1.9 billion monthly active users at the end of 2020 across all its sectors, including TikTok, its Chinese version Douyin and news aggregation app Toutiao.

Last month, the tech giant saw its biggest management alteration with co-founder Zhang Yiming announcing that he will step down as chief executive at the end of 2021, transitioning to a new role in which he will focus on long-term strategy, corporate culture and social responsibility. This has resulted in probably seeing a revenue surge of Tiktok.

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