Owns tiktok. Please add!
Unfortunately, Bytedance is a private company and shares are not traded on any stock exchange. If/when they do an IPO, it will be a good addition to Freetrade
I, too, use TikTok.
I’m not a fan of the app myself but certainly have to commend them for their success, it’s nothing short of remarkable. It’ll be interesting to see if and how they can keep up the current amount of growth and keeping people interested in the app. I guess that’s all down to the community who post the content.
In August, ByteDance, the company behind short-video app TikTok and one of the world’s most valuable start-ups, launched a search function within its Jinri Toutiao news aggregator. Backed by SoftBank, ByteDance’s popular games, news and short video apps have made it a rare Chinese start-up to boast a sizeable overseas audience.
“ByteDance has gained so much traffic through its news feed and short video apps, many users already started to search for content within its systems, that’s why they are taking search to the next level and commercialising it,” according to Zhang Xueru, an analyst at Shanghai-based 86 Research.
“The problem [for Baidu search] is not that its business model is wrong; it’s that user behaviour is changing,” said Ms Zhang.
Bytedance’s advertising alliance Pangolin, launched in 2018, boasts 36bn requests per day from 700m active users, as well as what analysts estimate is now the largest network of advertisers in China.
Firework, a video-sharing startup based in Mountain View, California, is one company aiming to become part of the broader social media landscape. The app, which launched in September 2018, already has 3 million users (the majority of them in the US) and it’s growing quickly. CEO Vincent Yang told Quartz the app is adding about 500,000 users per month, primarily using influencer marketing rather than traditional ads. “We try to focus on our own organic growth and on the partnership side,” he said. Compared to TikTok which has spent nearly $1 billion on advertising in 2019 alone, Firework spends just a “few hundred bucks” on Facebook ads each day, Yang said.
Heard Josh Brown on CNBC’s Halftime talking about this. If these guys go public (Bytedance) it’ll be massive. Snap might want to merge with them even. Snap’s been getting pummelled since they turned down Facebook
Controversial video sharing app TikTok was the most downloaded iOS app in the world in the final quarter of last year, according to analytics company SensorTower. The top five were rounded out by YouTube, Instagram, WhatsApp, and Facebook.
This is a great episode.
Can we get these guys back again for an AMA @sampoullain Really like their podcasts along with How I Built This. And a draper esprit AMA while we’re at it
Tik Toks numbers are insane. A person on twitter in the thread from the pic asked how they stack up against p**nhub. Going PC because I don’t want to be reported!
Tiger Global Management has built a stake in ByteDance, the Chinese owner of the viral video app TikTok, joining other global investors such as SoftBank and Sequoia Capital jostling to capitalise on the explosive popularity of short-form video.
The New York-based investment group discussed the stake in a letter to investors this week, saying it had “purchased shares over the past 21 months at a low multiple of future free cash flow”. Tiger Global did not disclose the size of the investment.
Investors valued ByteDance at $75bn two years ago following a $3bn funding round led by the tech conglomerate SoftBank, making it the second-most valuable start-up behind Alibaba’s Ant Financial.
Tiger Global began buying shares at about half that value and has added to the position through purchases in secondary markets, people familiar with the transactions said.
ByteDance’s shares recently changed hands on secondary markets at prices giving the company an implied valuation of between $90bn and $100bn, according to several people familiar with the transactions.