Bytedance is one of the biggest app companies in the world.
Since it’s inception in 2012 Bytedance has focused more on developing mobile applications for Chinese mobile users. However, in October 2015, Bytedance became interested in overseas markets and realized that it would need a specialized application to succeed there. In 2016, the company made a notable decision: they chose to bring machine learning technology from their flagship application.
Bytedance is one of the most valuable tech startups in history , which is why it has been involved in several disputes. In the past, Bytedance got into a spat with Q&A app maker Zhihu and another one with video-streaming giant iQiyi. Even though the exact cause of both spats isn’t known, many people believe that they were caused by a fight over traffic sources.
Bytedance was once rumored to have unsuccessfully tried to acquire Douyin from Toutiao for around $800 million USD. After that failed deal, Bytedance realized that going overseas would be its best option for success.
Bytedance company overview
Valuation
$78b
CEO
Yiming Zhang
Funding
$7.9b
Investors
Bank of China, Altimeter Capital, GS, MS, TCV
2021 Revenue
Approx. $58b
How to invest in Bytedance
Investing directly in Bytedance isn’t possible because the company isn’t publicly listed so you can’t purchase stock. An indirect way of investing in Bytedance would be to invest in the private equity firms (listed above) funding the company.
Will there be a Bytedance IPO?
There is a possibility of TikTok filing for an IPO but with the current political unrest, this is unlikely to happen anytime in the near future.
Bytedance investors are also keen to ensure the company remain privately owned so they keep control.
Bytedance News
Bytedance sees growth slow despite 70% jump in revenue
Sequoia Capital and Kohlberg Kravis Roberts Japan are the most recent investors. ByteDance has made 58 investments. Their most recent investment was on Nov 17, 2022 , when Zhengyan Software raised ByteDance has had 2 exits. ByteDance 's most notable exits include Li Auto and Zhangyue Technology .
Zhang Yiming (Chinese: 张一鸣; born April 1, 1983) is a Chinese internet entrepreneur. He founded ByteDance in 2012 and developed the news aggregator Toutiao and the video sharing platform TikTok (Douyin/抖音), formerly known as Musical.ly.
To start, while ByteDance is still a private company, they have chosen to issue employees RSUs not stock options. This is also true for a few other late-stage private companies (e.g., Stripe and Waymo).
Press play to listen to this article! Got it! Operating losses at ByteDance, the Beijing-headquartered parent of wildly popular video-sharing site TikTok, more than tripled last year to more than $7 billion, the Wall Street Journal reported today, citing a financial report shared with employees.
ByteDance's founder, Zhang Yiming, believes that the company's most fundamental competitive advantage is its data-driven organizational culture. Its foray into short video, for example, was driven by one executive noting that time spent viewing videos had increased sharply on Toutiao.
Despite being valued at $250 billion, ByteDance is also not publicly traded. That said, ByteDance is backed by multiple firms: Kohlberg Kravis Roberts, SoftBank Group, Sequoia Capital, General Atlantic, and Hillhouse Capital Group. Investing in these companies is an indirect way to invest in TikTok.
Is ByteDance a good company to work for? ByteDance has an overall rating of 4.1 out of 5, based on over 2,481 reviews left anonymously by employees. 78% of employees would recommend working at ByteDance to a friend and 71% have a positive outlook for the business.
The social media app has started to profit from its popularity. It earned $4 billion in revenue last year and is on track for $12 billion in 2022, according to the research firm eMarketer.
ByteDance Ltd. Founded by Zhang Yiming, Liang Rubo and a team of others in 2012, ByteDance developed the video-sharing social networking services and apps TikTok and Chinese-specific counterpart Douyin. The company is also the developer of the news platform Toutiao.
This is because there have only been 55 new Chinese companies joining the club since the start of 2021. Two of the three hectocorn ($100billion) companies are Chinese, with Bytedance and SHEIN ranking 1st and 3rd respectively.
Just one month after TikTok mandated that employees return to the office at least twice a week, the video-sharing platform announced it would end its $45 daily meal stipend for employees outside its Los Angeles and Mountain View, Calif., hubs.
The company is also paying users directly via its Creator Fund and TikTok Pulse ad program. Payouts from its fund and ad-revenue sharing range between a few cents to around $8 per 1,000 views.
During the middle year of that period, ByteDance posted a net loss of more than $87 billion. WSJ attributed that downturn to a number of factors, including the TikTok owner's aggressive spending habits and “unrealized market losses on convertible securities.”
TikTok parent ByteDance's operating losses more than tripled from $2 billion in 2020 to over $7 billion in 2021, reports The Wall Street Journal, citing an internal report.
ByteDance is financially backed by Kohlberg Kravis Roberts, SoftBank Group, Sequoia Capital, General Atlantic, and Hillhouse Capital Group. As of March 2021, it was estimated to be valued at $250 billion in private trades.
TikTok is owned by the Chinese company ByteDance. Right now, it is the Singaporean finance manager Shou Zi Bite who runs the platform. He turned into the CEO of TikTok in May 2021, as well, just like the CFO of ByteDance since May 2021.
Despite being valued at $250 billion, ByteDance is also not publicly traded. That said, ByteDance is backed by multiple firms: Kohlberg Kravis Roberts, SoftBank Group, Sequoia Capital, General Atlantic, and Hillhouse Capital Group. Investing in these companies is an indirect way to invest in TikTok.
“ByteDance let us know today they would not be selling TikTok's US operations to Microsoft,” says Microsoft in a statement. “We are confident our proposal would have been good for TikTok's users, while protecting national security interests.
TikTok's staggering user growth rate is one of the biggest reasons it might be a good investment if it eventually goes public. After all, TikTok is the fastest-growing social media platform of 2022. TikTok may also continue to grow and become more widely adopted in the professional world.
Triller is a popular alternative to TikTok. It seems to be the app that celebrities gravitate toward to record and edit their videos, probably because the app is so easy to use. You just record your video and the app basically does everything for you.
TikTok is owned by Beijing-based ByteDance — an organization that is beholden to the Communist Party of China and required by the Chinese law to comply with PRC's surveillance demands,” Carr said in a letter addressed to Sundar Pichai and Tim Cook.
Introduction: My name is Mr. See Jast, I am a open, jolly, gorgeous, courageous, inexpensive, friendly, homely person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
