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TikTok owner ByteDance is planning to launch an offshore public listing for short video app Douyin, the Chinese version of TikTok, which could value the company at roughly $400 billion in the private market.
Mobile app data analysis firm Sensor Tower released a report Thursday claiming that in May, TikTok and its sister app for mainland China, Douyin, earned more than $277 million from the App Store and Google Play.
The popular short video sharing platform TikTok will cooperate with Virtual Dining Concepts to launch TikTok Kitchen, to provide food delivery services in the United States from March 2022.
![[Exclusive] Zhang Yiming’s Full Internal Letter: ByteDance 'Understands' US Decision, Still Aspires to Become Transformative Global Company](https://assets.pandaily.com/uploads/2020/08/zhangyiming.jpg)
On August 3, at 12:40 PM, Beijing local time, ByteDance founder Zhang Yiming sent out an all-staff letter in response to the potential sale of TikTok’s US operations.
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.