TikTok’s Owner Made $7 Billion in Revenue for the First Half of the Year

  • China’s Byte Dance, The Owner of Video Sharing App “TikTok”, Made Revenue of Around $7 Billion to $8.4 Billion Dollars in Their Fist Half of the Year.

ByteDance, Which was loss making in the first half of the year, also posted a profit in the June and was very confident of making a profit in the second half of the Year, of the of people said, decline to be identified as the company has not made a public announcement.

Robust growth has led the Beijing based startup to revise its revenue target for 2019 to 120 billion yuan from an earlier goal set to late last year of 100 billion yuan, a person said.

The analysts called ByteDance a strong Threat to other Chinese tech industry firms.

Including: Social Media and Gaming Giants Tencent and search engine leader Baidu.

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