15:13 17/06/2021
34.3 billion Dollars during 2020, counts millions of users worldwide
The owner of popular short video app TikTok told employees that its revenue last year doubled to $34.3 billion, underscoring why the Chinese tech giant is one of the world's hottest startups.
According to The Wall Street Journal, its total revenue rose 111% from a year ago, while gross profit rose 93% to $19 billion.
The wildly popular short video app has been downloaded more than 240 million times in the US, with teenagers and adults posting short clips.
The company will undergo a major management change this year as Zhang Yiming, the co-founder of ByteDance, will step down from his role as CEO by the end of the year. TikTok has become the sensation of the moment all over the world with an average dwell time per user of 52 minutes per day! These are really interesting numbers and it is TikTok that is making everyone jealous.
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