ByteDance, the Chinese parent company of TikTok, had a profit of $3 billion last year on revenue of $17 billion and has $6 billion in cash, Bloomberg reported. While the revenue figure isn’t surprising—it’s in line with projections leaked last year—the hefty profit margin and cash reserves show the startup doesn’t need an IPO to raise money right away. So far, however, nearly all of...
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Can Livestream Shopping Cure the Holiday Gifting Blues?
Hi, welcome to the Weekend.It might seem against the holiday spirit to say so, but does anyone really love gift-shopping these days? Even pre-pandemic, it was a stress-inducing affair, loaded with decision fatigue, toy-of-the-year FOMO and ghosts of bad presents past.Into this consumerist minefield has stumbled a strange new entrant: livestream shopping. In this week’s issue, writer Janet...
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