Sign up to receive our
daily summary of tech news for free.

A TikTok sign at a ByteDance event in Tokyo last year. Photo by Bloomberg
Exclusive
Asia

TikTok’s U.S. Revenues Expected to Hit $500 Million This Year

Photo: A TikTok sign at a ByteDance event in Tokyo last year. Photo by Bloomberg

TikTok has taken off like a rocket ship in the U.S. and around the world, creating a new mobile video experience that has left YouTube and Facebook scrambling to keep up. Now, under a new CEO, former Disney executive Kevin Mayer, the Chinese-owned social app hopes to turn that growth into billions in revenues. Mayer could look to the success of TikTok’s sibling apps in China for inspiration.

Last year, TikTok brought in about $200 million to $300 million in revenue worldwide, a figure that hasn’t previously been reported. This year, TikTok aims to generate $500 million in revenue from the U.S. alone, according to two people familiar with the matter. Employees say the efforts to start making money from TikTok are still in their infancy. The coronavirus pandemic, which has caused many advertisers to slash spending, is also likely to affect TikTok’s growth.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Podcast
The Information’s 411 — A Little More Moderation

We talk with John Redgrave, the CEO of content moderation startup Sentropy, about the challenges of curbing hate speech online. Then Cory checks in on the state of the travel industry with Jon Staff, the CEO of vacation startup Getaway.

Latest Briefs
 
Intel Buys Stake in Amabani’s Jio Platforms
Away CEO Steph Korey Will Step Down Again Within the Year
Senate Committee Passes Bill Targeting Tech’s Legal Immunity
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.
Exclusive
Kilar’s Radical Vision for WarnerMedia: Putting Consumers First
A few weeks ago, WarnerMedia’s new CEO, Jason Kilar, met with a group of executives developing a version of the company’s HBO Max streaming service that would carry commercials.
Exclusive Facebook
Zuckerberg Tells Facebook Staff He Expects Advertisers to Return ‘Soon Enough’
Facebook CEO Mark Zuckerberg told employees he was reluctant to bow to the threats of a growing ad boycott, saying in private remarks that “my guess is that all these advertisers will be back on the platform soon enough.” Zuckerberg gave his thoughts on the boycott, which now includes large brands like Starbucks and Coca-Cola, during a video town hall meeting last Friday, according to employees who attended.
Exclusive Markets Enterprise
IPO Contender Snowflake on Pace for $400 Million in 2020 Revenue
If Snowflake goes public this year, as many watchers of the subscription software company expect, its soaring revenue will be a big reason why.
The Big Interview Venture Capital Startups
The Tech Entrepreneur Who Loves to Troll Silicon Valley
Earlier this month, David Heinemeier Hansson opened up Twitter and laced into Apple, describing the company as a “gangster” after it threatened to remove a new email app by his company, Basecamp, from the App Store for violating Apple policies.
Exclusive Facebook Asia
TikTok Vulnerable to Fake Followers, Security Firm Warns
TikTok has grown into one of the most popular apps in the world while largely avoiding the prevalence of fake accounts that plague its older peers in social media.
Startups
Tech’s Hidden Diversity Problem: Executive Headhunters
Executive search firm True often gets the call when hot tech companies seek to fill key jobs. The New Jersey–based outfit has grown as quickly as some of its startup clients, having hired 350 employees across several continents since its founding eight years ago.