ByteDance headquarters in Beijing. Photo by AP

TikTok Owner ByteDance’s Gross Revenue on Track to Jump 60% This Year

Photo: ByteDance headquarters in Beijing. Photo by AP

ByteDance's gross revenue is on track to rise about 60% to 400 billion yuan (about $63 billion) this year, cementing the TikTok owner’s position as one of the world’s five biggest online ad sellers, according to two people with knowledge of internal projections.

The pace of growth is slower than it was last year, when gross revenue—total sales before payouts to ad agencies are deducted—more than doubled to roughly 250 billion yuan. Even so, the previously unreported projection also suggests ByteDance is growing faster than its bigger social media rivals: Revenue at Facebook owner Meta Platforms rose 46% in the first nine months of this year compared to a year earlier. Tencent, which operates China’s biggest social app, WeChat, reported a 16% rise in revenue in the same period, though more of it came from videogame payments than from ads.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
The Briefing Amazon Google
The Other Amazon Antitrust Paradox
An Amazon warehouse in Staten Island, N.Y. Photo by Bloomberg
Federal Trade Commission chair Lina Khan and other Amazon critics face an inconvenient truth in a Wall Street Journal article today about the impact Amazon is having on the unskilled labor market. Undercutting the lefty dogma that Amazon is bad for labor, the Journal story suggests Amazon is helping drive improvements in wages and benefits for low-skilled workers across the country. That sounds...
Latest Briefs
Quick Commerce Startup FastAF Valued at $200 Million
Rent the Runway’s Revenue Grew 64% in Q3
‘The Trust is Gone’: Lawmakers Press Instagram Head at Senate Hearing
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.
Photograph by Dave Zahrobsky. Art by Haejin Park.
The Big Read Venture Capital Startups
The Inside Story of a Scorched-Earth Breakup Between Two Founder Friends
At 31, Erica Johnson, a neuroscientist and engineer, had never been rich, and certainly not tech-unicorn, eff-you-money rich.
Apple CEO Tim Cook. Photo collage by Haejin Park. Photos by Bloomberg
Exclusive Asia Apple
Inside Tim Cook’s Secret $275 Billion Deal with Chinese Authorities
Apple’s iPhone recently became the top-selling smartphone in China, its second-biggest market after the U.S., for the first time in six years.
Illustration by Mike Sullivan
Modest Proposals Crypto Facebook
Facebook’s Decade-Old Missteps Should Be a Lesson for Web3
Once upon a time—that is, in 2011—the company then known as Facebook launched Open Graph, a way for users to carry their Facebook identities from app to app, thereby enabling developers to give them a personalized experience wherever they went.
Howie Liu, co-founder and CEO of AirTable. Photo by Bloomberg
Exclusive Venture Capital Startups
Airtable Valuation to Double to $11.7 Billion in New Funding
Airtable, a developer of cloud-based collaboration software, is finalizing a new round of funding that would value the San Francisco startup at $11.7 billion including the new capital, said two people familiar with the discussions.
Data Point Crypto Venture Capital
VC Investments in Consumer Crypto Startups Soar 26-Fold
Venture capitalists investing in consumer startups are writing more checks for crypto companies than ever before.
Art Credit: Vinnie Neuberg
Decamped Travel
CEO Phil Libin Moved to Bentonville, Arkansas at Random—Now, He’s Planting Roots
E ditor’s Note: In this week’s “ Decamped , ” catching up with Phil Libin, CEO of video communication company mmhmm and former CEO of Evernote , about the realities of leaving San Francisco for small-town Arkansas.