ByteDance's official financial reports or credible financial news sources

ByteDance Reports 60% Revenue Growth in First Half of 2024, Valuation Hits $300 Billion Amid U.S. Challenges

Nov 16, 2024, 03:44 PM

ByteDance, the parent company of TikTok, reported a nearly 60% increase in international revenue for the first half of 2024. This surge in revenue comes amid ongoing challenges to maintain TikTok's presence in the U.S. market. The company's valuation has reached approximately $300 billion, marking one of its highest valuations ever. Notably, Jeffrey Yass, a significant donor to former President Trump, is said to be a major investor in ByteDance, reportedly owning around 15% of the company. Analysts suggest that TikTok's growth trajectory, including its TikTok Shop feature, is likely to continue despite regulatory scrutiny.