![]() ![]() The platform has a surprisingly advanced set of video editing tools, which has allowed users to make some extremely creative and technically impressive videos. TikTok videos are so sharable because they are short five-second to one-minute long clips that can be cut and spliced using the app’s editing tools. How did it manage to grow so quickly? The answer is TikTok’s combination of user features and sophisticated algorithms for generating and finding relevant content. In fact, it was the first Chinese app to become the most downloaded app in the US. TikTok quickly became one of the most popular video streaming apps in the world. With over 600 million daily TikTok users, it’s no surprise that it could be landing this much revenue. TikTok’s revenue is private but estimated at over $200 million this year. TikTok generates revenue from a combination of in-app purchases and advertising. Some people speculate that the tech is so valuable that the Chinese government would stop the company from selling it. These algorithms could be used for all kinds of applications, such as marketing and sales. The machine learning platform identifies a user’s interests and recommends new content to them. Most of that estimated value is attributed to TikTok’s algorithm and popularity.Īccording to many analysts, the most valuable asset that TikTok owns is its algorithms and data set. Parent company ByteDance’s valuation was raised to $200-$400 billion recently, according to a private equity fund. It’s currently estimated that TikTok is worth $50-$75 billion, but the actual dollar figures are closely guarded. Since TikTok gets so much attention, its revenue and worth are closely watched by investors. The company is backed by multiple private equity funds and venture capital companies, but it is not traded on a public stock exchange. Zhang Yiming is ByteDance’s owner and founder. TikTok is owned by a Chinese company called ByteDance. This was in an attempt to judge whether any national security threats warranted banning or selling the brand. However, in February 2021, this tentative deal was indefinitely put on hold by President Joe Biden. ![]() He voiced concerns that reports suggested ByteDance might be a threat to US security.Īfter a series of lawsuits, injunctions, and administrative orders, TikTok agreed to a deal in which US companies Walmart and Oracle would take a minority stake in the company. According to President Trump, there was evidence that TikTok was a national security threat. In 2020, then-US President Donald Trump signed executive order 13942 to ban TikTok in the US within 45 days if the parent company ByteDance did not sell it to an American company. By the end of 2018, the company had a presence in 150 markets in over 75 languages.ĭespite its incredible success, TikTok has been banned in numerous countries due to accusations of spreading “immoral” and “dangerous” content.įor example, TikTok has been banned several times in India due to criticism of the Indian government on the platform. TikTok merged with Musical.ly to take advantage of the latter app’s young user base in the US and other countries. In 2020, it was the most downloaded app.Īround the same time, ByteDance spent $1 billion to acquire the Shanghai company Musical.ly, a video platform that lets users create short, lip-synced music videos. It quickly became one of the most popular apps on both Apple and Google Play Store. The app experienced a seismic growth in popularity among the Chinese population, so the company prepared for an international release.Īn international version of Douyin was created and called TikTok and was released in global markets in September 2017. Surprisingly, it was developed in only 200 days and was first released in China. Douyin was originally founded by the privately held Chinese company called ByteDance in 2017 after switching the name from A.me.
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