ByteDance

Founded in 2012 and headquartered in Beijing, ByteDance is a global internet and technology company active in more than 150 countries. The company offers a portfolio of leading consumer apps including Douyin (short video platform in China), Toutiao (news aggregator and content discovery platform in China), Xigua Video (live streaming and video sharing platform in China), Lark (global digital collaboration product), and TikTok (short video platform outside of China). Initially focused on the Chinese market, its international expansion was accelerated from 2018 after merging its nascent product TikTok with Musical.ly (acquired in 2017). ByteDance currently also operates a diverse set of products across six business units in areas such as enterprise software, gaming and education.

Driven by the success of Douyin and TikTok, ByteDance has grown at a rapid pace in recent years. According to public sources, 2021 and Q1 2022 revenue reached USD 61.7 billion (up 80% year-over-year) and USD 18.3 billion (up 54% year-over-year) respectively. At the same time, the company’s revenue base has diversified away from its traditional stronghold in digital advertising to e-commerce, live streaming and other new initiatives. Although ByteDance continues to enjoy attractive prospects, it also faces the impact of global macroeconomic conditions which have slowed the recent growth of other internet players.

Today, ByteDance operates globally with a growing international presence while China remains its largest market. It also continues to navigate the complex regulatory landscape in major markets including the United States and China.