Reuters reported on Thursday that the total revenue of TikTok’s parent company, ByteDance, increased by 70% year-on-year in 2021 to about $58 billion, a slower growth rate than a year ago. The lower growth numbers may be due to the tightening of supervision on large technology companies by authorities, according to two people familiar with the matter. According to the latest exchange rate, it is equivalent to ByteDance daily income of 1.007 billion yuan ($158.82 million).
ByteDance has not announced the company’s performance before, but CEO Liang Rubo disclosed the company’s financial situation and latest business data in 2020 for the first time last year. According to an internal memo from the company, the actual revenue in 2020 was 236.6 billion yuan($37.32 billion), with a year-on-year increase of 111% and an operating loss of 14.7 billion yuan ($2.32 billion).
By the end of 2020, the monthly active users of the company’s products was 1.9 billion, covering more than 150 countries and regions around the world and supporting more than 35 languages. Recently, the PC-based version of TikTok has been launched, which can be downloaded through the Lenovo Software Store. At present, the company has offices in more than 30 countries including Asia, America and Europe, with 110,000 employees worldwide.
According to a recent report released by the research organization IMZ Lab, the company maintained its second position in China’s online advertising market last year, with a market share of 21%. E-commerce giant Alibaba still tops the list, with gaming giant Tencent in third place, the report said.