In 2018 it was the most valuable startup in the world (even surpassed Uber) and was valued at approximately $75 billion. Today it is a technology giant worth 225 billion and whose gross profit grew by 60% in just one year.
We are talking about ByteDancethe multinational of Chinese origin known above all because one of its products is TikTokperhaps the only social network that has not experienced a drop in users and popularity in the last 3-4 years.
Social network
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by Emanuele Capone
How much is ByteDance worth today?
According to what was reported by the Bloomberg news agency, which cited “sources close to the company”, ByteDance’s gross operating margin would have risen by 60% in 2023 compared to 2022, i.e. from approximately 25 to over 40 billion dollars, equal to just under 40 billion euros; sales rose to nearly $120 billion, up from $80 billion the previous year.
If the figures, which have yet to be confirmed and independently verified, were indeed these, it would be the first time that ByteDance has surpassed its rival (in both revenues and profits). Tencent, another technology giant of Chinese origin, known for his activity on the Internet and in the world of video games.
Founded a dozen years ago in BeijingIn short, ByteDance has grown very rapidly, to the point of becoming one of the most valuable tech companies in the world, above all thanks to TikTok, which until August 2018 it was called Musical.ly and only in that year did it arrive in Europe and also in Italy (becoming very popular between 2019 and 2020).
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It’s not all rosy, however: as is widely known, the company has long been in the sights of the US authorities especially for its (alleged) links with China and the Chinese government: both the administration Trump both the administration Biden they have tried and are still trying to block TikTok on American soil, where the app has around 170 million users.
Come su Italian Tech we have already writtenit is not unlikely that this success, these numbers (including economic ones) and the ruthless competition that TikTok poses to US social networks are among the unofficial reasons for US hostility towards him.
Despite this, or perhaps also because of this, TikTok continues to propose and think of new features to further grow its community: by the end of the month it will also expand to Europe (and therefore also to Italy) the new STEM feed dedicated to scientific subjectshas a new app called Notes aimed at sharing photos in the works and is also thinking about one economic incentive programspecific for Europe, to get people to watch more videos. These are all examples of one of the advantages that TikTok has over the competition: its relative youth, which allows the company to experiment as if it were a startup. Even though it is now worth billions and billions of dollars.
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– 2024-04-14 14:21:37
