While TikTok faces an uncertain future in the U.S., its Chinese parent company continues to rake in cash. On Wednesday, Bloomberg reported that ByteDance’s profit jumped 60% in 2023 to more than $40 billion, compared to $25 billion in 2022, citing people familiar with the matter. Despite a slowed Chinese economy, ByteDance has been buoyed by TikTok’s massive global popularity, especially in the U.S.—TikTok has 170 million American users, and a Pew study from January found it was the fastest-growing social media platform in the country.
Similar Stories to In The Face Of U.s. Ban Threats, Tiktok’s Parent Company Is More Profitable Than Ever on Bing News
Andrew R. Chow, Time: Business
Wed, 04/10/2024 - 9:40am
Topics: u.s.&mdash january china openai march u.s house representatives u.s the york democrat chuck schumer president biden read know about bill that could get but republican vice president mike pence mitch mcconnell beijing s ldquo;cutting scott nover time google meta&mdash donald trump national security council tiktok chinese bloomberg in american u.s u.s but senate it americans&mdash face ban parent company app bytedance called important bytedance’s wrote sell billion slowed campaign users calls comment
BING NEWS:
- A TikTok Ban Won’t Fix Social Media
You can take the platform away from American users, but it is far too late to contain the habits that it has unleashed.
05/8/2024 - 6:06 am | View Link - Everything We Know About TikTok’s Lawsuit Against The US Government Over App Ban, Explained
TikTok‘s parent company has sued the U.S. government in an expected move following a new law that could shut down the social media app in the country next year to block the ban. The case, which the ...
05/8/2024 - 5:19 am | View Link - TikTok and its parent company challenge a U.S. ban in court
TikTok is taking the Biden administration to court over the new law that would force a sale of the social media giant.
05/7/2024 - 10:23 pm | View Link - TikTok sues U.S. over sell-or-ban law. What the lawsuit means for California’s 16 million users
TikTok lawyers wrote a ban would silence “the 170 million Americans who use the platform to communicate in ways that cannot be replicated elsewhere.” ...
05/7/2024 - 5:57 am | View Link - TikTok’s free speech argument faces an uphill battle against national security
The U.S. Supreme Court typically gives the government wide latitude when it plausibly invokes dangers to the safety of the nation.
04/30/2024 - 3:30 am | View Link - More
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