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TikTok parent company ByteDance reportedly achieved revenue of $61.7 billion in 2021, an increase of 80% year-on-year. Meanwhile, net losses reached an astonishing $84.9 billion.
Is China-focused outbound investment as the theme for our first Fund solid enough? How long could China maintain its supply chain advantage?
TikTok's e-commerce business has undergone business adjustments in the past few months. Notably, the platform has introduced a new model for its e-commerce project codenamed Project S. In simple terms, Project S operates with a full custody model. Under the model, merchants are only responsible for supplying goods, while the platform covers operations and fulfillment.
The popular lifestyle app Lemon8, launched by the Chinese social media giant ByteDance four years ago, is gaining increasing popularity in the United States.
US President Joe Biden on Wednesday revoked former President Trump's executive orders trying to ban Chinese short video app TikTok and instant communication app WeChat over national security concerns and issued a new order to review security concerns posed by these apps, the White House said.
ByteDance is reportedly seeking a loan of $9.5 billion, poised to be the largest dollar-denominated corporate loan in Asia, excluding Japan.
ByteDance's Commercial Products Department held a general meeting on Thursday during which it was suggested that advertising revenue had seen no growth in China over the past six months.
After being accused of mishandling American user data and censoring content shown on the video-sharing app, TikTok released a statement on October 25 refuting the claims.
After launching an in-house tea brand called "Taoyuan Yuye" last year, TikTok owner ByteDance now plans to team up for a new food and beverage business.
In its announcement, Universal Music accused TikTok of "trying to build a music-based business without paying a reasonable price for the music."
TikTok’s parent company ByteDance announced the creation of its new Department of E-commerce Business on the eve of 618 Shopping Festival.
TikTok and its Chinese version of Douyin have earned more than $102 million in the global App Store and Google Play.