How Much Money Did TikTok Make? [Güncel]

Chinese owner of TikTok ByteDanceannounced the huge profit it made in 2023. The company’s profits increased by 60% last year, leaving its biggest rivals, Tencent and Alibaba Group, behind. The company’s profit, without deducting costs such as taxes and depreciation costs 40 billion dollars passed. The company’s sales reached 120 billion dollars.

Thus ByteDancein a sense its biggest rival Tencent It was surpassed in both turnover and profit for the first time. Although ByteDance’s financial statements have not been examined by independent auditors, the social media giant 2023 in the year It is thought to be one of the fastest growing technology companies.

ByteDance is also active in the Chinese market

TikTok and its Chinese twin Douyin became the rulers of the Chinese internet last year. While Tencent and Alibaba’s growth stalled amid economic uncertainty in the country, ByteDance turned Douyin into an “all-in-one” platform. Like Alibaba in practice to–trade With its features such as applications, food ordering applications, Douyin stood out in many ways in direct competition with Tencent and Alibaba.

TikTok Shop USA And Southeast Asia After its successful launch in regions such as, the company’s revenues managed to go beyond the limits of digital marketing. ByteDance aims to multiply its revenues in the US this year. The company also increased its profitability by focusing on artificial intelligence while shrinking its gaming and business software departments.

On the other hand, everything is not sunny for the company. Especially in the USA And in the EU The practice, which is frequently at the center of criticism, is the target of sanction requests.