ByteDance is the world’s most Valuable private company and the parent of the infamous short-video app Tik-Tok. It is rumored to go for a public issue for its Chinese Assets in the Hong Kong bourses. Let’s look at some of its recently released metrics.
- Douyin, Tik-Tok’s Chinese twin, sold about $26 billion worth of make-up, clothing and other merchandise in 2020, it’s first year in ecommerce, a feat that took Alibaba six years to accomplish. To put that in perspective, that is greater than Iceland’s GDP for 2020!
- It is expected to make $40 billion in ad revenue this year, more than half of which is expected to be contributed by Douyin.
- As of March 2021, ByteDance was valued at $250 billion in the secondary market, about $80 billion more than India’s biggest company by marketshare – Reliance Industries.
