TikTok (previously called Douyin in China), launched in September 2016 by ByteDance, is one in every of the world’s fastest-growing in camera owned startups. It permits users to make 15-second videos that square measure soundtracked by music clips. In 2018, the applying was the foremost downloaded free app throughout the year for App Store (including the US) and was conjointly graded best on Google Play Store in october.
The company set-aside revenue of $7 billion to $8.4 billion within the half of this year. The revenue is more than expected in keeping with some sources.
One of the sources conjointly disclosed that the beijing based mostly startup has revised its 2019 revenue to one hundred twenty billion yuan (~$17 billion) instead of the 100-billion yuan (~$14.1 billion) goal set earlier last year because of the surprising growth.
Based on a report from the data, a web tech news outlet, the company’s revenue was $7.2 billion for two018.
ByteDance gains most of the revenue from its domestic market. Douyin generates the bulk of the advertising fees. TikTok, on the opposite hand, remains within the early phases of development.
The rising company, with its strong growth, has been move a threat to alternative Chinese firms like Tencent and Baidu. Since globally, ByteDance’s application has one.5 billion monthly active users and 700 million daily active users on the average.
ByteDance conjointly launched an exploration engine last month, directly threatening Baidu’s computer programme. To expand its portfolio within the world market, the corporate has conjointly launched a piece potency app referred to as Lark and is functioning on a paid music streaming application.
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