2027, Security and social media - Community Banking Brief

TikTok Doubles Sales To $35 Billion Despite Bans, Layoffs

PYMNTS

JANUARY 27, 2021

Chinese social media app TikTok — the world’s biggest startup — grew operating profit to $7 billion after parent company ByteDance saw revenue at about $35 billion last year, Bloomberg reported. The former President Donald Trump administration last year also moved to ban the app after calling it a security threat.

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Chinese Advertising Generates $27B For TikTok’s ByteDance

PYMNTS

NOVEMBER 11, 2020

Social commerce topped $89 billion January to September, making social media the new advertising darling and ByteDance a threat to longer-established platforms like Facebook and Instagram. A recent report forecasted that social commerce will reach $604.5 billion by 2027. . percent stake in TikTok’s U.S. operations.

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Community Banking Brief

TikTok Doubles Sales To $35 Billion Despite Bans, Layoffs

Chinese Advertising Generates $27B For TikTok’s ByteDance

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