Today is our 9th anniversary! Celebrate with us and save 50%—more than $175—on an annual subscriptionAct Now

Art by Mike Sullivan.

ByteDance’s Revenue More Than Doubled in 2020

Photo: Art by Mike Sullivan.

You might have thought TikTok’s owner ByteDance had a tough year in 2020, what with President Trump trying to ban TikTok and India actually taking that step. But none of that mattered to ByteDance’s actual business, which grew like gangbusters.

ByteDance’s revenue last year more than doubled to about $37 billion, people with knowledge of the matter said, as robust growth of ad sales by its Chinese apps offset any impact from India’s ban on TikTok and the U.S.’s threat of a ban. And it wasn’t just the top line that mushroomed: The company also generated more than $7 billion in operating profit last year, two of the people said, compared with less than $4 billion the previous year.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Test Drive e-commerce
Shein Confusion: The Fast-Fashion Giant’s New Resale Site Doesn’t Make Buying Easy
Illustration by Laurent Hrybyk.
All I wanted from Shein Exchange was a plain black skirt. It was a simple enough desire, I thought, as I swiped around the fast-fashion giant’s newly launched resale platform. Scrolling through the offerings, I was bombarded with used neon crop tops, bedazzled pants and denim skirts—but my basic wardrobe staple was nowhere to be found. When it was unveiled in October, Shein Exchange...
Latest Briefs
 
Foxconn’s China IPhone Factory Could Be Back at Full Output by End December
DOJ Seeks Independent Examiner in FTX Case to Investigate Fraud Allegations
Amazon Entertainment Chief Jeff Blackburn to Exit Company
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Charlie Bell. Photo via Microsoft
Exclusive microsoft amazon
A Former Amazonian Hits Bumps in Push to Make Microsoft More Secure
When Microsoft last year recruited Charlie Bell, a top product engineering executive at Amazon Web Services, it was a major coup for the software giant.
Data Point google
Where Google Has Grown
Alphabet has doubled the headcount in its Google Cloud unit since early 2019, according to data obtained by The Information, outstripping Alphabet’s overall hiring growth.
startups venture capital
Six Investors Chasing Debt Deals During the Downturn
With equity investors dialing back and public markets frozen over, startups that need to raise money are short of options.
The 1:1 policy
A Billionaire Couple Goes for Broke: How John and Laura Arnold Plan to Give It All Away
On Election Day, John and Laura Arnold found themselves deep in the lion’s den: a few blocks from the White House, working from the new Washington D.C.
Photo by Bloomberg.
Exclusive
Marc Lore’s Kitchen on Wheels Startup Cuts Staff, Dials Back Delivery Ambitions
Wonder, a mobile kitchen and food-delivery startup led by Jet.com founder Marc Lore, has laid off 7% of its workforce, a company spokesperson said, as it attempts to overhaul its business.
Photo by Getty. Art by Mike Sullivan.
Opinion culture
Employees Aren’t the Only Ones Suffering From Burnout
We’re living in a split-screen world when it comes to burnout and the employee experience. On one side are all the investments CEOs and human resources executives have been making in recent years—and especially since the pandemic began—to support employee well-being and mental health.