JAMIE CARR: The battle for TikTok
ByteDance is estimated to have pulled in revenues of $120bn in 2023, just shy of Meta’s $135bn
21 March 2024 - 05:00
ByteDance: Battle rages for TikTok
The runaway success of TikTok means that its parent company, ByteDance, is thundering up on the shoulder of Meta in the race to be the world’s largest social media company. Its explosive growth has forced the likes of YouTube and Instagram to dash out copycat short video formats, and ByteDance is estimated to have pulled in revenues of $120bn in 2023, a 40% increase on the previous year and a whisper shy of Meta’s $135bn, which represented a mere 16% annual growth. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.