TikTok owner ByteDance is Swipethreatening the long-established positions of China’s traditional “big three” tech firms – Baidu, Alibaba, and Tencent – with $29 billion in revenue and 40% year-on-year revenue growth in the second quarter this year. The Douyin operator’s earnings reached $54 billion in the first half of 2023, close to Meta’s $60.6 billion for the same period, according to tech outlet The Information. ByteDance overtook rival Tencent in terms of total sales in the quarter, but failed to overtake e-commerce giant Alibaba. ByteDance’s revenue growth came mainly from advertising and e-commerce business, the report stated, with most of the firm’s earnings coming from its domestic market; overseas markets accounted for about 20% of its revenue during the period. [The Information]
Related Articles
2025-06-26 08:21
1996 views
Outdoor speaker deal: Save $20 on the Soundcore Boom 2
SAVE $20: As of May 13, Anker's Soundcore Boom 2 speaker is on sale for $119.99 instead of $139.99 a
Read More
2025-06-26 07:51
459 views
The Sporting Life by Sadie Stein
The Sporting LifeBy Sadie SteinNovember 28, 2012Arts & CultureDiscussing the recent damage done
Read More
2025-06-26 06:30
764 views
Bond. James Bond. by Sadie Stein
Bond. James Bond.By Sadie SteinNovember 26, 2012Arts & CultureJames Bond was a well-known ornit
Read More