TikTok owner ByteDance’s revenue in 2021 grew 70% year on year to around $58 billion, Reuters reported. The pace of growth is slower than 2020, when revenue more than doubled. But the results still highlight the strength of ByteDance’s businesses in China, considering that China’s regulatory crackdown and slowing economic growth have negatively affected the country’s digital advertising market...
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TikTok Shifts Into Damage Control Mode

TikTok and some companies that work with the popular app have shifted into damage control mode after a rancorous Congressional grilling of TikTok CEO Shou Zi Chew failed to allay lawmakers’ concerns that its Chinese parent, ByteDance, poses a national security risk. Golin, a major public relations firm that hires creators on behalf of brand clients, on Friday asked some clients to hold...
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