TikTok is owed by ByteDance, a Chinese internet technology company owning several content platforms across the world (Douyin, Toutiao, Xigua Video, Helo, Lark, Babe). Bytedance passed the $100 billion private market valuation by 2020, and making over $17 billion in revenue and over $3 billion in profits.
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Bytedance corporate structure
Based on the several products the company has, its holding company is a Cayman corporation, keeping control, of other subsidiaries, from TikTok Ltd., which is the Cayman holding, owning TikTok LLC (in US), TikTok KK, in Japan, TikTok Pte. Ltd. in Singapore, and TikTok Information Technologies UK Ltd. in the UK.
The leadership team is comprised of Yiming Zhang, founder and CEO, followed by the other board of directors.
ByteDance started its international growth, in the western world, when in August 2018, it merged Music.ly with TikTok, and from there the International expansions accelerated.
Within ByteDance there are other investors, comprising private equity and venture capital firms like Sequoia, KKR, and SoftBank.
TikTok business model is quite interesting as it goes beyond the traditional social media format.
Other products part of ByteDance
- Douyin China’s leading destination for short-form mobile videos. (TikTok in China).
- Toutiao one of the most popular content discovery platforms in China.
- TikTok leading destination for short-form mobile video.
- Xigua Video one of China’s most popular video applications that enable users to discover, enjoy and share a wide range of video stories, both short-form and long-form.
- Helo India’s leading social media platforms.
- Lark collaboration tools in a single interconnected platform, including chat, calendar, content creation, cloud storage, and app management.
- Babe Indonesia’s leading news and content app.
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The post Who Owns TikTok? Inside The Chinese Tech Giant appeared first on FourWeekMBA.
