PDF Publication Title:
Text from PDF Page: 001
How TikTok’s Owner Became The World’s Most Valuable Unicorn cbinsights.com/research/report/bytedance-tiktok-unicorn ByteDance, the China-based unicorn behind the video-sharing app TikTok, was recently valued at up to $140B. Now, the company is leveraging its recommendation algorithms to expand its portfolio in a bid to join the ranks of Big Tech. Get the full report At the end of 2018, Chinese tech startup ByteDance completed a $3B investment round led by SoftBank at a valuation of about $75B — catapulting it to be the most valuable startup in the world. In 2020, investments made in the company reportedly valued it at up to $140B, cementing its high-flying status. Those who are unfamiliar with the name ByteDance have most likely heard of its flagship product, TikTok. As of May 2020, the viral video app has been downloaded approximately 2B times. The onset of the global coronavirus pandemic and the associated lockdowns have further accelerated TikTok’s trajectory. In Q1’20 alone, TikTok accumulated 315M new downloads worldwide — a record-breaking quarter for an individual app, according to Sensor Tower. As of spring 2020, ByteDance operates more than 20 apps in spaces ranging from news and video to music and mobile gaming. Some, like TikTok, are international in scope. Others, like the news aggregator product Toutiao, have so far only been made available in China. With each new product it launches, ByteDance leverages the same 3 key advantages it has cultivated in its core business areas like news curation and short-form video: A young and highly engaged user base. Like Facebook before it, ByteDance is leveraging an audience of actively engaged young people to facilitate its growth. In the US, 60% of TikTok users reportedly fall between the ages of 16 and 24. Worldwide, two-thirds are under the age of 30. Products engineered for virality. With TikTok, ByteDance appears to have tapped into something powerful in the way that users currently want to engage with content. The top 50 content creators on TikTok have more followers than the populations of Mexico, Canada, the UK, and Australia combined. 1/17PDF Image | How TikTok’s Owner Became The World’s Most Valuable Unicorn
PDF Search Title:
How TikTok’s Owner Became The World’s Most Valuable UnicornOriginal File Name Searched:
TikTok.pdfDIY PDF Search: Google It | Yahoo | Bing
Cruise Ship Reviews | Luxury Resort | Jet | Yacht | and Travel Tech More Info
Cruising Review Topics and Articles More Info
Software based on Filemaker for the travel industry More Info
The Burgenstock Resort: Reviews on CruisingReview website... More Info
Resort Reviews: World Class resorts... More Info
The Riffelalp Resort: Reviews on CruisingReview website... More Info
| CONTACT TEL: 608-238-6001 Email: greg@cruisingreview.com | RSS | AMP |