Has there been a changing of the guard?
Bytedance, the China-headquartered owner of TikTok (and TikTok’s equivalent app in Greater China, Douyin) generated more than $17 billion in revenues in 2019, according to a revelatory new report by Bloomberg – in addition to over $3 billion in annual net profit.
That $17 billion+ revenue figure was more than double the $7.4 billion that Bytedance turned over in 2018. More startlingly, it was also significantly more than the $15.15 billion that Alphabet says YouTube generated in ad revenues last year.
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