In 2023, Beijing-based ByteDance reported approximately 120 billion U.S. dollars in revenues, up by about 50 percent compared to the previous year. ByteDance, also the owner of the popular Chinese news and content app Toutiao, has seen its major social video app TikTok face several controversies since its stellar rise to popularity, especially in the United States. Alleging national security concerns, U.S. governmental institutions have been pushing the possibility to ban the app from the country, as India did in June 2020. Almost 30 percent of U.S. citizens strongly approved of the U.S. government's request that the Chinese owners of TikTok sell their stakes. With its stock debut being on hold, the firm offered to repurchase up to five billion U.S. dollars worth of shares from investors in December 2023, totaling 268 billion U.S. dollars.
Annual revenue generated by ByteDance from 2020 to 2023
(in billion U.S. dollars)
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Bloomberg. (April 10, 2024). Annual revenue generated by ByteDance from 2020 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 30, 2024, from https://www.statista.com/statistics/1376941/annual-bytedance-revenue/
Bloomberg. "Annual revenue generated by ByteDance from 2020 to 2023 (in billion U.S. dollars)." Chart. April 10, 2024. Statista. Accessed October 30, 2024. https://www.statista.com/statistics/1376941/annual-bytedance-revenue/
Bloomberg. (2024). Annual revenue generated by ByteDance from 2020 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 30, 2024. https://www.statista.com/statistics/1376941/annual-bytedance-revenue/
Bloomberg. "Annual Revenue Generated by Bytedance from 2020 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 10 Apr 2024, https://www.statista.com/statistics/1376941/annual-bytedance-revenue/
Bloomberg, Annual revenue generated by ByteDance from 2020 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1376941/annual-bytedance-revenue/ (last visited October 30, 2024)
Annual revenue generated by ByteDance from 2020 to 2023 (in billion U.S. dollars) [Graph], Bloomberg, April 10, 2024. [Online]. Available: https://www.statista.com/statistics/1376941/annual-bytedance-revenue/