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ByteDance revenues more than double on back of TikTok boom

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June 18, 2021 at 09:57AM

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Owner of video-sharing app also reports a 93% increase in gross profit to $19bn in 2020

ByteDance, the Chinese parent of TikTok, more than doubled its revenues last year as usage of the hugely popular video app boomed.

The company, which last year weathered pressure from Donald Trump to sell its US operation as part of a trade war with China, reported a 111% increase in revenues to $34.3bn (£24.7bn).

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