Analysis of ByteDance with a close look on Douyin TikTok

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Kim, H. W., Chan, H. C., & Gupta, S. (2007). Value-based Adoption of Mobile Internet: An empirical investigation. Decision Support Systems, 43(1), 111-126. Kirk, W. C., & Wishing, K. J. (2018). Fundamentals of the Asset-Based Business Valuation Approach. Insights, (114), 3–14. Klobucnik, J., & Sievers, S. (2013). Valuing high technology growth firms. Journal of Business Economics, 83(9), 947-984. Knight, W. (2018). The Insanely Popular Chinese News App That You’ve Never Heard Of. Retrieved from https://www.technologyreview.com/s/603351/the-insanely-popular-chinese- news-app-that-youve-never-heard-of/ on March 3rd, 2019 Koetse, M. (2015). A Short Introduction to Sina Weibo: Background and Status Quo. Retrieved April 21, 2019, from https://www.whatsonweibo.com/sinaweibo/ on April 29th, 2019 Lam, T., & Li, C. (2018). Short video platform – Douyin. Fung Business Intelligence - Uncovering the Emerging Players in China’s e-Commerce, (1), 1-10. Lei, K., Zhang, K., & Xu, K. (2013). Understanding Sina Weibo online social network: A community approach. GLOBECOM - IEEE Global Telecommunications Conference, 3114-3119. Levy, A. (2017). The 4 Pillars of Facebook’s Growing Ad Revenue. Retrieved from https://www.fool.com/investing/2017/05/09/the-4-pillars-of-facebooks-growing-ad- revenue.aspx on April 10th, 2019 Li, H., & Lo, H. Y. (2015). Do You Recognize Its Brand? The Effectiveness of Online In-Stream Video Advertisements. Journal of Advertising, 208-218. Long, D. (2018). China’s online video market hits 76% penetration, led by Tencent Video and iQiyi. Retrieved from https://www.thedrum.com/news/2018/09/24/china-s-online-video-market- hits-76-penetration-led-tencent-video-and-iqiyi on March 10th, 2019 Lotz, A. D., Lobato, R., & Thomas, J. (2018). Internet-Distributed Television Research: A Provocation. Media Industries Journal, 5(2), 35-47. Luciano, R. (2003). EBITDA as an indicator of earnings quality. Journal of Applied Science in Southern Africa, (1), 29. Lunden, I. (2018). Momo buys Tantan, China’s Tinder, for over $600M as Chinese social networks consolidate. Retrieved from https://techcrunch.com/2018/02/23/momo-buys-tantan-chinas- tinder-for-600m-as-chinese-social-networks-consolidate/ on April 25th, 2019 Mauboussin, M. J. (2018). What Does an EV/EBITDA Multiple Mean? Retrieved from https://www.bluemountaincapital.com/wp-content/uploads/2015/03/What-Does-an-EV- - 65 -

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