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ByteDance spectacular performance comes despite uncertain macro conditions and a major fall for tech companies in 2022. Last year in 2022, TikTok parent ByteDance reported a strong 30% surge in its revenue crossing $80 billion in sales and matching other tech giants like Tencent. ByteDance’s twin video platforms TikTok and
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On March 23, the world watched as United States lawmakers questioned TikTok CEO Shou Chew at a House Energy and Commerce Committee hearing in Washington. In the hearing, lawmakers grilled the CEO over suspicions that the Chinese government is gathering user data through the app. The intensity of the exchanges went
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Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the “Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)” Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish
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On Thursday, TikTok CEO Shou Zi Chew appeared before US Congress to address several pertinent issues, including user data protection. Yesterday, TikTok CEO Shou Zi Chew concluded his first public hearing before the US Congress. Chew attempted to dispel legislators’ claims that the Chinese-based social media platform threatens US national security. At the
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TikTok generated more than $350 million from IAPs in the fourth quarter. With the global economy still straining companies around the world, many social media platforms like TikTok are generating such revenue that seems to be forming the basis for other players in the micro-messaging and social media world. According to
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The US Congress is readying a votable bill to pave the way for a broader ban on TikTok to reduce Chinese control of US data. The US House Foreign Affairs Committee looks to implement legislation that could facilitate a nationwide TikTok ban. More than 100 million Americans currently use the
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With AUDIO, the token of the Audius platform, listeners could send tips to any artist who publishes their music on the platform, whether they have a massive following or not. Web3 music platform Audius has collaborated with the social media platform TikTok on another new functionality. In an announcement on Thursday,
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Audius users can sign up for the application with their TikTok profiles, as well as utilize the streaming service’s songs in their videos on the social media platform. Source
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In addition to challenging TikTok, Tencent also connects its products with Channels to help creators to stream content.Chinese multinational and entertainment company Tencent Holdings is set to challenge ByteDance’s dominance with its own TikTok. A source revealed that Tencent had created a team of content creators to launch its own
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TikTok-parent ByteDance said that these job cuts come as part of the company’s plans to streamline operations.As per the latest reports, ByteDance, the parent firm of the social media platform TikTok has cut hundreds of jobs across multiple departments by the end of 2022. TikTok has reportedly joined the list
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