How TikTok’s Owner Became The World’s Most Valuable Unicorn

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Get the full report here India India has emerged as an important international market for ByteDance. The company reportedly has around 300M monthly active users in India across 3 products: TikTok, Vigo Video, and Helo. The company says that it plans to spend $1B in the country across the next few years. ByteDance’s rapid expansion in the Indian market has been enabled by the recent surge in smartphone usage in the country. The total number of smartphone users in India will approach 900M by 2022, according to projections by Cisco. Source: Quartz India The recent surge in smartphone usage in the country means that many of these new adopters could be less locked-in to tech incumbents’ products, creating an opportunity for relative newcomers like ByteDance. TikTok alone is estimated to have over 200M users in India. By comparison, Facebook is thought to have about 300M users in India — not a big lead given the company’s relative longevity. 15/17

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