Source https://www.theinformation.com/articles/revenue-at-tiktok-owner-bytedance-rose-more-than-30-in-2022-topped-80-billion ByteDance, the Chinese owner of TikTok, generated more than $80 billion in annual revenue last year, up more than 30% from roughly $60 billion in 2021, according to two people with knowledge of the figure. The 2022 result, which hasn’t previously been reported, is significant because most technology companies with that kind of revenue experienced a marked slowdown in growth last year. It also means ByteDance revenue is on par with that of Tencent, an iconic Chinese social media company that owns WeChat. And it shows a substantial majority of ByteDance’s revenue growth came from its core advertising business in mainland China, where it operates Douyin, an app similar to TikTok that has hundreds of millions of daily active users. ... TikTok in November projected its ad sales for 2022 would grow two and a half times from the previous year to around $10 billion. That means TikTok likely grew at a much faster rate than its parent company’s growth overall, but represented around 12% of total ByteDance revenue for the year. TikTok has become a major rival to Meta Platforms’ Instagram, Google’s YouTube, and Snapchat. Last year TikTok ad revenue flew past that of Snapchat’s owner, which generated $4.6 billion, up 12% from 2021. Meanwhile, YouTube’s 2022 revenue rose 1% to $29.2 billion while Meta’s rose 1% to $116.6 billion as a broader economic slowdown hurt the ads market. ... // Many people on blind still think TikTok == Bytedance and RSUs would be worthless if TikTok is banned (likely not soon even if it happens). Granted, the valuation would take a hit but Bytedance non-TikTok and TikTok non-US consideration for RSUs is not "worthless." Also, for US employees, we were told there would be a share buyback program #tiktok #bytedance
Bytedance tikokt is trash as a company
It's trash, but it's slowing become the goto social media app!?
ROFL there’s a 98.X% chance I’ve been at meta longer than you. And I’m telling you that it’s okay, you don’t have to blindly trash anyone that’s not meta lol the company you’re fighting for may just let you go in a month. I know people who have left to go there and they’re paying incredibly more than meta and have a great culture/benefits.
Data source of Chinese companies: Trust me bro.
All Chinese companies grow 20% revenue every year and all have zero debt. You're an idiot for not backing the truck up on any one of them (Sadly I think /s is needed here)
Yup I agree with you, but data: trust me bro.
$300k cash / $75k bonus / ~$200k RSUs per year (at grant price)
Damnn OP what is your YOE?
When was the last buyback? Can you sell rsu outside?
There was never a buyback before for US employees but there's usually been buybacks every year for employees outside the US. I'm not aware on selling RSUs outside
Then what's the point of rsus for us employees?
They did a share buyback for the early employees only earlier in the year and at a depressed price. I don’t think the company will let us exit our RSU’s, especially with the US ban looming. If it’s banned we’ll be left out to dry and expire for sure. Best bet, keep pushing for company buy back at depressed rate
There was a business update this week where they said they will have a US buyback program this year
^ really? Looking forward to it if true.
Wow I didn’t expect that. Just quickly checked Tencent’s 2022 revenue was also around $81B. Basically $80B is the revenue of Meta in 2020 - would it be this year they surpass Meta? 🥲🥲
WTF
That’s scary
don’t come. Shitty company
100% you’ll regret it
What!?
what does this mean for valuation?
Never seen an ad on Tiktok and I have spent at least 100+ hours
Are you in the U.S?
you may have. a lot of ads look like regular videos.
Rocket 🚀
How's rippling doing?
🚀