TikTok owner ByteDance reportedly saw $5.6 billion revenue for Q1 2020 - Business Insider

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TikTok's parent company reportedly saw $5.6 billion in revenue during the first three months of 2020

Amid the coronavirus outbreak, ByteDance was able to buck slowdowns across industries in digital advertising. Instead, ByteDance's apps — including hits outside of the US like Jinri Toutiao, Douyin, and Vigo Video — have benefited from a global uptick in use of social platforms, as millions were placed under lockdown and spent more time indoors.

Looking ahead, ByteDance has reportedly set a 2020 revenue goal of about 200 billion yuan, around $28.2 billion. That revenue figure is $11.2 billion more than

 

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Sacré Tiktok

*Thanks to Covid-19

Countdown begins for the end of tiktok

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