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3. Sales and marketing a. Cost of acquiring customers 4. Operational expenses a. Personnel cost b. Rent 5. Overhead It is reported that the company made a slim profit in 2017 (Dredge, 2019). In 2018, in order to increase the international user amount, the company spent heavily for oversea promotion. With limited success, the company made a 1.2 billion US dollars net loss (Zhang & Osawa, 2019). These numbers gave a profit margin of -16.9% With the limited data and information on cost and earnings, it is very difficult to do an analysis. Thus, exclude their impact in the following analysis. 4.3 Valuation Analysis and Discussion We examined four companies in similar industries to gain an understanding of its peers’ performance – Weibo Corp., iQIYI Inc., Momo Inc., and Facebook Inc.. We chose the following companies on the following grounds: 1. They are publicly listed. All companies used for comparison here are public and are traded on NASDAQ Stock Market. The companies are all at a rather mature stage of development and growth. Their characteristics of being publicly traded also facilitates the retrieval of data. 2. They are in similar industries or have rather similar business model. Companies are in similar industries as Douyin and share rather similar business model with it. This similarity is to ensure that reasonable comparisons could be made as it leads to higher level of comparability. 3. They represent both international and local competitors. - 54 -PDF Image | Analysis of ByteDance with a close look on Douyin TikTok
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