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. ..

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