Business World

TikTok owner sees revenue, profit hit records in 2020

ByteDance, the Chinese company behind the smash-hit video app TikTok, saw its earnings double last year. An internal memo released to staff showed that the firm’s total revenue jumped by 111% to $34.3 billion in 2020. The figures underscore TikTok’s continued global popularity. It comes as ByteDance and several other Chinese technology giants have come […]