TikTok parent company ByteDance reportedly achieved revenue of $61.7 billion in 2021, an increase of 80% year-on-year. Meanwhile, net losses reached an astonishing $84.9 billion.
ByteDance, the Beijing-based parent company of TikTok, has recently launched a new fast-fashion retail platform named "If Yooou." It currently covers European countries such as the UK, France, Germany, Italy and Spain.
The 2022 social media landscape in a nutshell: Facebook trying hard to be Instagram, Instagram trying hard to be TikTok, and TikTok trying hard to be BeReal.
Chinese short video app Kuaishou's overseas business structure has been adjusted. A separate international commercialization department was set up within the division to boost revenue.
A recent poster on a hacker forum claims to have obtained TikTok's and WeChat's databases on Alibaba's cloud service platform, which together contain over 2.05 billion user records. However, Tencent, WeChat's parent company, and TikTok denied any security breach.
On August 31, Beijing-based tech company ByteDance held an All Hands staff meeting event. During the more than one-hour event, management responded to many problems and challenges facing ByteDance at present.
TikTok's Chinese version, Douyin, has decided to adjust its e-commerce business. In the future, Douyin E-Commerce will focus on online shopping malls and brands.
WOMO Technology, a Gen Z-oriented social platform based on AI two-way matching, has received over 20 million yuan ($2.97 million) in round-A financing.
TikTok's gross merchandise volume (GMV) for its e-commerce business in the first half of 2022 exceeded $1 billion, which is equivalent to the full-year volume the platform saw in 2021.
ByteDance's CEO Liang Rubo recently updated his personal OKR, which shows that ByteDance is updating its recruitment plan according to business needs and will greatly reduce the numbes it needs throughout 2022-23.
Yang Zhenyuan, Vice President at ByteDance, said that the company has no general-purpose chip plan and is not involved in businesses such as the manufacturing of CPUs and GPUs.
People from ByteDance said that the short video sharing app TikTok is adjusting its global business.
ByteDance, the owner of global hit short video app TikTok, is now looking to hire a large quantity of chip-related engineers.
Mobile application data analysis company Sensor Tower released a report on July 8 claiming that Douyin and its overseas version TikTok earned more than $283 million in June from the App Store and Google Play.
Louis Yang, the first head of ByteDance Education Hardware Business, left the job last week.
TikTok is preparing to launch a warehousing plan called "Aquaman" for its e-commerce business in the UK market in the near future.
Regulatory bodies of the European Union said on Tuesday that TikTok, the globally popular short video sharing app owned by Beijing-based ByteDance, had agreed to adjust relevant consumer rights of local users in order to avoid sanctions.
TikTok, a short video streaming platform owned by Beijing-based tech giant ByteDance, has completed migrating information on its US users to servers at Oracle Corporation, in a move that could address US regulatory concerns over data integrity.
TikTok announced on June 9 that throughout coming weeks, it will introduce a tool to help users control how much time they spend on the short video app in a single sitting by enabling regular screen time breaks.
Mobile app data analysis firm Sensor Tower released a report Thursday claiming that in May, TikTok and its sister app for mainland China, Douyin, earned more than $277 million from the App Store and Google Play.