(Bloomberg) — TikTok parent-company ByteDance Ltd. generated more than $17 billion in revenue and more than $3 billion in net profit last year, figures that show the startup, already the most valuable in the world, is growing at a brisk rate, according to people familiar with the matter.The revenue for last year is more than double the company’s tally of about $7.4 billion in 2018. The people asked not to be identified because the financial details are private.ByteDance has emerged as one of the tech industry’s most surprising success stories, an innovative Chinese company that is challenging the global dominance …read more
Source:: Yahoo Finance
